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State of Punjab - Section

Section 12 in The Punjab State Warehousing Corporation Regulations, 1976

12. Powers of the Managing Director and other Officers of the Corporation [Section 20(3)(a), Section 33 and 42(2)(e) and (f)].

- The managing director shall have the power to negotiate and carry on the authorised business of the Corporation in accordance with the instructions which the board or the Executive Committee may issue from time to time and shall be the authority to decide whether any suit or proceedings be instituted or defended by or against the Corporation subject to such directions as the Board may give from time to time.
(ii)
(a)The managing director shall act as Controlling and Disbursing Officer in respect of all funds of the Corporation and subject to the specific delegation mentioned in sub-regulation (iii) shall operate the bank accounts jointly with either the Secretary or Accounts Officer upto a sum of Rs. 50,000/- and in excess of Rs. 50,000/- jointly with the Chairman or a Director and shall draw, accept and endorse bills of exchange and other instruments in the current and authorised business of the Corporation and shall sign all other accounts receipts and documents connected with such business.
(b)
(I)The managing director any declare any article or item valuing upto Rs. 500/- as unserviceable and get it disposed of through public auction. For an article or item valuing above Rs. 500/- the aforesaid powers shall be exercised by the Chairman.
(II)The managing director may declare any article or item valuing up to Rs. 500/- as surplus and get it disposed of through public auction.
(III)The managing director may write off a financial loss to the Corporation upto Rs. 1000/- in any one case. For such a loss of above Rs. 1000/- the aforesaid power shall be exercised by the Chairman.
(IV)The managing director shall exercise the following financial powers :-
Nature of power Extent Remarks
  |
  Recurring Non-Recurring  
(a) Power to incur expenditure on purchase of material, etc. Up to Rs. 500/- Up to Rs. 5,000/- For any one item at any one time.
(b) Power to hire godowns or office Below Rs. 500/- . ..... Per mensem per godown or building
(iv)The managing director shall organise and supervise the office of the Corporation, maintain discipline and exercise such power in connection with appointments, promotions, of termination of service and other disciplinary matters and leave of the staff of the Corporation as may be vested in him by the Board in this behalf and allocate duties to the staff and make such other arrangements as may be necessary for the efficient discharge of the functions of the Corporation.
(v)The Secretary and other officers of the Corporation shall exercise the following financial powers :-
  Nature of power To whom delegated Extent Remarks
  |-   Recurring   Non-recurring
(a) Power to incur expenditure on purchase ofmaterial and to incur other contingent expenditure Secretary Up to Rs. 50/- at a time and up to a maximum ofRs. 1,000/- in a month subject to budget provision   Up to Rs. 100/- For any one item at any one time
(b) Power to pass bills in respect of pay, T.A. & otherclaims of staff Secretary Up to Rs. 1000/- for any one bill at a timesubject to the sanction of the competent authority and subjectto the pre-audit of the bills by the Accounts Officer   ... ...
(c) Passing of suppliers bills Secretary Up to Rs. 1,000/- for any one bill subject tosanction of the competent authority and subject to pre-audit ofthe bills by the Accounts Officer (Except petty contingentexpenditure up to Rs. 20/- in any one case)   ... ...
(d) Power to open, close or transfer bank account Secretary Full Powers   ... In the absence of the Managing Director
(e) Power to pass rent bill Accounts Officer Up to Rs. 1,0000/- in respect of any one billat a time subject to sanction of the competent authority   ... ...
(f) Power to pass recoupment statement Accounts Officer Up to Rs. 200/- at any one statement at a time   ... ...
(g) Power to issue cheques Accounts Officer Up to Rs. 5,000/-   ... ...
(h) Power to issue cheques Account Officer jointly with the Secretary Up to Rs. 10,000/-   ... ...
(i) Power to hire godowns Inspection Officer/Deputy Inspection Officer Up to Rs. 100/- per mensem per godown   ... ...
Note I. - Cheques and its relevant voucher upto 1,000/- shall be signed by the Assistant Accounts Officer.Note II. - In the absence of the Accounts Officer, whether being on leave or on tour, all his powers shall be exercised by the Assistant Accounts Officer.