Section 94 in The Punjab Town Improvement Trust Rules, 1939
94.
(1)The Chairman may, on behalf of the Trust enter into any contract or agreement, whereof the value or amount shall not exceed one thousand rupees, in such manner and form as, according to the law for the time being in force, would bind if such contract or agreement were on his own behalf, and every such contract or agreement shall be reported to the Trust at the next ordinary meeting thereof.(2)Every other contract and agreement on behalf of the Trust shall require the previous approval of the Trust, and shall be signed by the Chairman and sealed with common seal of the Trust as hereinafter provided. No contract or agreement referred to in this sub-rule, unless executed as herein provided, shall be binding on the Trust.(3)The common seal of the Trust shall not be affixed to any contract or other instrument except in the presence of the Chairman, who shall attach his signature to the contract of instrument in token that the same was sealed in his presence.Budge estimates
