OVC Rules 52Chapter XI · Management of Property, Finance and Accounts

Section 52 · Surplus Funds

- The Funds of the State Council surplus to the current requirement may on recommendations by the Register and with the sanction of the Finance Committee formed by the State Council Consisting of such members as decided by the Council be invested in the following manner, namely :

(i)

in promissory notes, stock or other securities of any State or Central Government;

(ii)

in stock or debentures or shares in companies, interest which have been guaranteed by the Government of India; and

(iii)

in debentures or other securities for money issue under the authorities of an Act or on behalf of any Municipal Body, Port Trust or City Improvement Trust.

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