Section 6(2) in The Punjab Legislative Assembly (Grant of Advance to Members) Rules, 1979
(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.
