Co-operative mutual benefit society -permissible investments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2011
Investments by cooperative societies is permitted in assets/securities prescribed in Sec 20 of the Indian Trust Act. Section 20(f) says that if allowed under the By-Laws (Trust Instrument in the case of a trust) of the society, investment could be made in securities out side of those prescribed in Section 20.
It could therefore include overseas securities so long as it is an investment specifically permitted in the By-laws.
Is my interpretation correct?
It could therefore include overseas securities so long as it is an investment specifically permitted in the By-laws.
Is my interpretation correct?
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 October 2011
aissue resolved
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