Permitted modes of Investment - Section 350 ( New) / Section 11(5) (Old)

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....y is required to be invested or deposited for the purposes of the provisions applicable to registered non-profit organisations. The provision adopts a two-tier mechanism: • Schedule XVI specifies the permitted modes of investment or deposit; and • the Central Government may specify additional modes by notification. Section 350(1) - Modes Specified in Schedule XV....

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....entral Government Section 350(2) provides an enabling mechanism under which the Central Government may, by notification, specify modes of investing or depositing money in addition to those specified in Schedule XVI. Therefore, Schedule XVI is not necessarily exhaustive. The statutory framework permits the Central Government to expand the list of permissible investment or deposit modes throug....

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....eposit and, under clause (xii), also covers such other forms or modes of investment or deposit as may be prescribed. Section 350(2) expressly authorises the Central Government, by notification, to specify additional modes other than those specified in Schedule XVI. Corpus-related application Section 11(1)(d), read with section 11(5) and section 13(1)(d), governs the investment/de....