16. Investment of funds
Feedback & supportThe Board may from time to time apply any of its funds not immediately required to be expended in the meeting of the obligations or in the discharge of the functions of the Board —
Board
“Board” means the Public Utilities Board established under the Public Utilities Act in force before 1st October 1995 and continued by section 3;
for investment in any of the securities in which trust funds may, under any written law for the time being in force relating to trustees, be invested; and
securities
“securities”, in relation to a company, includes shares, debentures, bonds and other securities of the company, whether or not constituting a charge on the assets of the company;
with the approval of the Minister, for investment in such shares, funds, securities, financial derivatives or investments as the Board thinks fit.