(2)The remaining surplus referred to in sub-clause (ii) of clause (a) of sub-section (1) or in item (II) of sub-clause (i) of clause (b) of sub-section (1), as the case may be, and the surplus referred to in sub-clause (ii) of clause (b) of subsection (1), and the profits allocated to or reserved for the members under section 28A, shall be utilised for such purposes as the Board may approve, including for the purpose of declaration or payment of dividend, the issue of fully paidup bonus shares to members and crediting any of the reserves that the Board may create for any purpose.
