Section 58(13) in Himachal Pradesh Waqf Rules, 2016
(13)Amount not required for expenditure during the year shall be invested by the Board.-(a)in one or other of the following securities:-(i)promissory notes, debentures, stocks or other securities of the Central Government;(ii)stock or debentures of, or shares in companies, the interest wherein shall have been guaranteed by the State Government or the Central Government;(iii)debentures or other securities for money issued by or on behalf of any Municipal body under the authority of any Act; or(b)in fixed deposits for a period not exceeding three years in-(i)a Scheduled Bank as defined in the Reverse Bank of India Act, 1934 (2 of 1934); or(ii)The Himachal Pradesh State Co-operative Bank; or(iii)for the purchase or for the first mortgage of immovable property with the previous sanction of the State Government.
