Section 6 in The Punjab Legislative Assembly (Grant of Advance to Members) Rules, 1979
6. Conditions for grant of advance for purchase of a house.
- The Sanctioning Authority shall sanction the repayable advance for purchase of a house to a member subject to the following conditions :-(i)The house must be purchased within one month from the drawal of the said advance;(ii)A satisfactory proof of the purchase of the house shall be submitted to the Sanctioning Authority immediately after the purchase is made;(iii)A member shall within a fortnight refund the surplus amount to the Government, if the amount of advance is more than what is actually spent for the purchase of a house;(iv)The member shall mortgage the house purchased with the advance and built on a plot which is free-hold or lease-hold in favour of the Governor of Punjab in Form 'B' or Form 'C', as the case may be, within a period of fifteen days from the date of purchase thereof;(v)The house shall be maintained in good condition at the cost of the member concerned and the municipal and other local taxes in respect of the house shall regularly be paid by him until the advance along with interest is repaid to the Government.[7. Grant of advance for the purchase of motor car, Jeep, Motor-cycle, Scooter or for Conversion of a Petrol Driven Motor Car of a Jeep to Diesel Driven Vehicle] [Substituted vide Legislative Suppliment Part III dated 25.5.1984] :- (1) A member desirous of getting advance for the purchase of Motor-car, Jeep, Motor-cycle, Scooter or for conversion of a petrol driven Motor-car or a Jeep to a diesel driven vehicle shall apply to the Sanctioning Authority in Form 'F' accompanied by an irrevocable Bank Guarantee worth not less than the amount of advance required or a surety bond in Form 'H' executed by the person having immovable property worth not less than amount of advance required.(2)The Sanctioning Authority shall sanction a repayable advance to a member for the purchase of a Motor-car, Jeep, Motor-cycle or a Scooter subject to the following conditions :-(i)The member shall execute an agreement in Form (I) before the drawal of the advance;(ii)The member shall purchase the vehicle within a period of one month from the date of drawal of the advance;(iii)The member shall hypothecate the vehicle in favour of the Government in Form 'G' before its registration or within a period of fifteen days from the date of purchase thereof, whichever is earlier.(iv)The member shall get the vehicle, comprehensively insured during the period the advance along with interest is not fully repaid; and(v)Where the member purchases a new vehicle he shall, while applying for registration, state that the vehicle is subject to hypothecation in favour of the Government as envisaged in Form 'E' set forth in the First Schedule appended to the Motor Vehicles Act, 1939.(3)The Sanctioning Authority shall sanction a repayable advance to the member for conversion of a petrol driven Motor-car or a Jeep to a diesel driven vehicle subject to the following conditions :-(i)The member shall execute an agreement in Form 'I' before the drawal of the advance;(ii)The member shall get the petrol driven Motor-car or a Jeep converted to a diesel driven vehicle within a period of one month from the date of drawal of the advance;(iii)The member shall hypothecate the petrol driven Motor-car or a Jeep to be converted to a diesel-driven vehicle in favour of the Government in Form 'G' before the drawal of the advance; and(iv)The member shall get the said diesel driven Vehicle comprehensively insured during the period the advance along with interest is not fully repaid.(4)The Sanctioning Authority shall furnish to be Accountant-General, Punjab as well as to the Treasury Officer a certificate to the effect that a deed in Form 'G' hypothecating the Vehicle in favour of the Government has been got executed from the member concerned and that has been found to be in order before the amount of advance is drawn.
