55. Investment of other funds
(1) A society may invest any of its funds (other than the reserve fund) in any of the modes specified in Section 70 when such funds are not utilised for the business of the society.
For the purpose of this sub-rule, "business of society" shall include any investment made by the society in immovable property with the prior sanction of the Registrar in the process of recovery of the society's normal dues or for the purpose of construction of building or buildings for its own use.
(2) The Registrar may, in the case of any society or class of societies, specify by a special or general order the maximum amounts to be invested in any class or classes of securities.
(3) Every society which has invested an amount not less than 10 per cent of its working capital in securities shall be required to constitute an investment fluctuation fund. The Registrar may direct that a specified per cent of the net profits every year shall be credited to the investment fluctuation fund until, in his opinion, the amount of the funds is adequate to cover anticipated losses arising out of the disposal of securities.
1l(4) Proportion of paid-up share capital of the investing society or a class of society, shall be determined by the Registrar by special or general order, from time to time, for investment in the shares or security bonds or debentures issued by any other society. While determining such proportion, the Registrar may impose such conditions as he may deem fit.
(5) When any society or societies have been permitted to enter into collaboration as provided under sub-section (I) of Section 20A, if it is necessary to invest the funds of the society or societies in such collaboration, the Registrar may, in addition to any general or special order of the State Government as specified in clause (e) of Section 70, impose such additional conditions as may be necessary in the interest of the society :
Provided that, the Registrar may for ensuring the safety of the funds of the society or societies invested in such collaboration for beneficial utilisation of the funds in furtherance of the objects may be regulated to the extent and manner of such investment from time to time.]