Section 115 in The Rajasthan Financial Corporation (Staff) Regulations, 1958
115. Sale of transfer.
- Except when an employee of the Corporation retires from service, he shall not, save with the previous sanction of the sanctioning authority, sell or otherwise dispose of the conveyance purchased with the aid of an advance till the advance together with the interest thereon has been fully repaid. If an employee of the Corporation who has purchased a conveyance with the aid of an advance wishes to transfer such a conveyance to another employee of the Corporation, who under these rules, will be eligible for an advance for the purchase of similar conveyance, he may be permitted by the sanctioning authority to do so and transfer the liability attached to the conveyance to the later employee of the Corporation; provided he records a declaration that he is aware that the conveyance transferred to him remains subject to the bond and that he is bound by its terms and conditions.
