The conditions to acquire, hold, sell or otherwise transfer any movable or immovable property under sub-section (1), conditions to invest moneys, re-invest or realise investments under sub-section (2), terms to raise loans and take measures for discharging such loans under sub-section (3) and terms to constitute for the benefit of officers and staff or any class of them, provident or other benefit fund under sub-section (4), of section 120 shall be–

(a) in case of the Provident Fund, Pension Fund or Insurance Fund, as specified respectively in the Provident Fund Scheme, Pension Fund Scheme and Insurance Fund Scheme; and

(b) in case of the Corporation, as specified in Chapter IV and under this Chapter.