- All monies belonging to a public trust other than monies required for the day-to-day expenditure of the trust shall be kept in a scheduled bank or a Post Office Savings Bank or in any bank registered under the [Co-operative Societies Act, 1912 (II of 1912)] [See now the M.P. Co-operative Societies Act, 1960 (17 of 1961).], or with the approval of the Registrar with any banker or person acting as a banker who has given such security for the safe custody and repayment on demand of the monies so deposited as the Registrar may in each case think sufficient :Provided that the Registrar may, by general or special order, permit the trustee of any public trust or class of such public trust to invest the money in any other manner.
