Section 13B
Investment of funds
of Fishermen'S Associations Act 1971
ActIn forceProvision 16 of 42
Section 13B
Subject to section 5, a Fishermen’s Association may invest or deposit its funds—
(a)
in any bank approved by the Registrar from time to time;
(b)
in any of the securities of the Federal Government or of the Government of any State;
Fishermen’s Associations 17
(c)
in securities issued in the Federation with the approval of the Treasury by any public authority established under
Federal or State law;
(d)
with the approval of the Registrar, in the share capital or securities of any registered body or company;
(e)
with the approval of the Registrar, in the purchase of lands or buildings or in the construction of buildings; or
(f)
in any other mode approved by the Registrar.