Section 69(3) in The Punjab Town Improvement Act, 1922
(3)Provided that nothing in the following provisions of this section shall be deemed to preclude a trust from, with the previous sanction of the [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government investing any such moneys which are not required for immediate expenditure in any of the securities described in section 20 of the Indian Trust Act, 1882 [2 of 1882], or placing them in fixed deposit with a bank approved by the State Government.
