Section 8 in The Punjab Relief of Indebtedness Act, 1934
8. Setting up of Debt Conciliation Boards.
(1)(a)The [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government may for the purpose of amicable settlement between debtors and their creditors establish debt conciliation boards.(b)The [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government shall define the local limits of the area in which a board shall have jurisdiction.(c)The [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government shall determine the pecuniary limits of the jurisdiction of the board, provided that no board shall have jurisdiction to make a settlement between a debtor and his creditors if the total debts of the debtor exceed Rs. 10,000 or such larger amount as the [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government may prescribe for any area.(d)Such board shall consist of a chairman and [one] [Substituted for the word 'two' by Punjab Act 6 of 1942, section 3(a).><span class=amd1><a title =] or more members to be appointed by the [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government [Provided that no act done or proceeding taken by a board under this Act shall be called into question on the ground merely of the existence of any vacancy in any board.] [The proviso added by Punjab Act 6 of 1942, section 3(b).](e)The chairman and every member of a board so established shall be appointed for a term not exceeding three years, but shall be eligible for re- appointment on the expiry of his term.(f)The quorum of a board shall be prescribed by the [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government.(g)Where the chairman and members of a board are not unanimous, the opinion of the majority shall prevail, and, if the board is equally divided, the chairman shall exercise a casting vote.(2)The [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government may cancel the appointment of any member of a board or dissolve any board.(3)The [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government shall notify in the [(Official Gazette)] [Substituted for the word 'Gazette' by the Government of India (Adaptation of Indian Laws) Order, 1937.] -(a)the establishment of a board and the appointment of its members; and the board shall be deemed to have been established and its members appointed from the date specified in such notification or notifications;(b)the cancellation of the appointment of any member of a board; and from the date specified in such notification the member shall cease to be a member of the board;(c)the dissolution of a board; and from the date specified in such notification the board shall cease to exist.(4)When a board is dissolved or ceases to exist otherwise, the [State] [Substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] Government may at any time establish another board within the same local limits in which the former board had jurisdiction and may declare this board to be the successor in office of the first board and may confer on it power to dispose of such applications under section 13(2) and section 23 as the [State] Government may direct.
