Section 17(3) in West Bengal Apartment Ownership Bye-laws, 1974
(3)An account shall be opened in the State Bank of India or in any Nationalised Bank, in the name of the aforesaid fund and all the money of the said fund shall be deposited in the said bank to the credit of the aforesaid fund and such account be operated by the President and the Treasurer jointly, and payments above rupees twenty shall be made by cheques:Provided that the Treasurer may, for defraying petty expenses, retain such amount of cash in his hands as the Association from time to time decides.
