Section 139(2) in The Punjab Panchayati Raj Act, 1994
(2)Subject to such rules as the State Government may make in this behalf a Panchayat Samiti, may from time to time with the previous sanction of the Director, invest any portion of the Panchayat Samiti Fund in securities of the Central Government or invest it in such other securities or place it in such other manner as the State Government may approve in this behalf and with the previous sanction of the Director may vary such investment or placement for another or others of like nature and the income resulting from such securities or placements and the proceeds of the sale of the same shall be credited to the Panchayat Samiti Fund.
