Section 34(2) in The Maharashtra National Law University Act, 2014
(2)The amount in the said fund shall be kept in a Scheduled Bank within the meaning of clause (e) of the Reserve Bank of India Act, 1934 (2 of 1934) or in a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) or, as the case may be, under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), or may be invested in such securities authorized by the Indian Trusts Act, 1882 (2 of 1882), as may be decided by the Executive Council.
