Section 71 in Haryana Co-operative Societies Rules, 1989
71. Investment of funds.
- Sections 85 and 131(2)(xxiii). - (1) Besides the modes provided in section 85 of the Act, a co-operative society may invest or deposit funds or any portion thereof.--(a)in bonds certificates or loans issued by Government or the Central Government.(b)in debentures floated by a co-operative societiy;(c)with the previous sanction of the Registrar, in the purchase or lease of land or building or in the acquisition, construction or renvewal of any building that may be necessary to conduct its business.(2)The amount of funds invested under clause (c) of sub-rule (1) shall be recouped on such terms as may be determined in each case by the Registrar.(3)The provisions of clause (c) of sub-rule (1) shall not apply;(a)to immovable property purchase.--(i)by a co-operative society at a sale held in execution of a decree obtained by it, for the recovery of any sum due to it; or(ii)by a financing bank at a sale held in execution of a decree obtained by a co-operative society financed by it, for the recovery of any sum due to such society or at a sale brought about by the liquidator of such society.
