Section 23(1)(iv) in The Goa, Daman and Diu Secondary and Higher Secondary Education Board Act, 1975
(iv)to invest, subject to the provisions of the Act, any money belonging to the Board, including any unapplied income, in any of the securities as may be prescribed or in the purchase of immovable property in India, with the like power varying such investments or to place in fixed or call deposits in any Scheduled Bank, any portion of such money not required for immediate expenditure;