Section 52. Investment of Funds

(1) A registered co-operative society may invest or deposit its funds- ' (a) in a Government Savings Bank, or (b) in any of the securities specified in section 20 of the Indian Trust Act, 1882, other than those specified in clause (e) of the section of the said Act, or (c) with the sanction of the Registrar, in the shares or debentures or in the security of any other registered co-operative society, or (d) with any registered co-operative society, bank or persons carrying on the business of banking approved for this purpose by the Registrar or, (e) in any other mode permitted by the bye-laws. (2) Such investment shall be accounted for separately from the Reserve Fund of the registered co-operative society.