Section 69(1) in The Punjab Town Improvement Act, 1922
(1)In places where there is a Government treasury or sub-treasury, or a bank to which the Government treasury business has been made over, all moneys at the credit of the trust shall be kept in such treasury, sub-treasury or bank.[Provided that for the purpose of raising loan for its development scheme a trust may keep the moneys at its credit in such other bank as may be approved by the State Government in this behalf.] [Proviso added by Punjab Act No. 7 of 1974.]
