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Union of India - Section

Section 113 in The Sikh Gurdwaras Act, 1925

113. Trust funds to be deposited in banks.

- (1) Every sum received by the Board in connection with any fund shall be placed to the credit of the fund in such bank as the Board in general meeting may direct.] [Section 113 renumbered as sub-section (1), and new sub-section (2) added by Punjab Act No. 27 of 1953, Section 2.]
(2)[ The Board may invest any portion of its fund in one or more Government securities or Defence Savings Certificates [or in purchasing immovable property] [Section 113 renumbered as sub-section (1), and new sub-section (2) added by Punjab Act No. 27 of 1953, Section 2.] and the income or proceeds derived or obtained therefrom shall be credited to the fund from which the investment was made.] [Sections 108-A, 108-B, and 108-C, inserted by Punjab Act 1 of 1959, Section 37.]