Rule 303 — Investment of fund moneys

Parent Act Section(s): Section 1

Full Text

Investment of fund moneys.– (1) All moneys contributed to the fund, or received or accrued by way of interest, or otherwise, may be– (a) deposited in a Post Office Savings Bank Account in India; or (b) deposited in a current account or a savings account with any scheduled bank; or (c) utilised in accordance with rule 307 for making payments under a scheme of insurance or for purchase of annuities referred to in that rule; (2) Any funds not deposited or used as mentioned in sub-rule (1) shall be invested in accordance with the notification of the Ministry of Finance, (Department of Financial Services) number F. No. 11/14/2013–PR, dated the 2nd March, 2015 published in the Gazette of India, Extraordinary, Part I, Section 1 as amended from time to time.

[To be populated — interpretive notes, circular references, case law pointers]