Section 178(3) in Greater Hyderabad Municipal Corporation Act, 1955
(3)All such deposits and investments shall be made by the Commissioner on behalf of the Corporation with the sanction of the Standing Committee, and, with the like sanction, the Commissioner may at any time withdraw any deposit so made or dispose of any securities and redeposit or reinvest the money so withdrawn or the proceeds of the disposal of such securities; but no order for making any deposit or investment, withdrawal or disposal under this section shall have any validity unless the same be in writing, signed by two persons in the manner specified in subsection (1) of section 171 for signing of cheques.
