Section 6 in Goa (Grant of advance to Member of the Legislative Assembly for purchase of new motor car) Rules, 2005
6. Negotiations for purchase of motor car.
(1)A Member to whom an advance is sanctioned for the purchase of new motor car shall complete his negotiations for the purchase and shall make final payment for the motor car within one month from the date on which he draws the advance and failing such completion and payment, the full amount of the advance drawn with interest thereon for the month shall be refunded to the Government. The period of one month for completion of negotiation may, however, be extended by the Sanctioning Authority in any individual case on merits. An advance will not be admissible when a motor car has already been purchased and paid for in full. In a case in which payment has been made in part, the amount of advance will be limited to the balance to be paid as certified by; the member.(2)At the time of drawing the advance, the Member shall execute an Agreement in Form II and on completing the purchase he shall further execute a mortgage bond in Form III hypothecating the motor car to the Government as security for the advance. The cost price of the motor car shall be entered in the Schedule of specifications attached to the mortgage bond.(3)The Sanctioning Authority shall require the Member to furnish additional collateral security, wherein considered necessary. The collateral security may be in form of assignment of Life Insurance Policies or title deeds of other properties.(4)When an advance is drawn, the Sanctioning Authority shall furnish to the Accounts Officer, a certificate that the agreement in Form II has been signed by the Member drawing the advance and that has been found to be in order. The Sanctioning Authority shall ensure that the motor car is purchased within one month from the date on which the advance is drawn or within such period as may have been specifically allowed in any individual case by the Sanctioning Authority for completion of the negotiation under sub-rule (1) and shall submit every mortgage bond, promptly to the Accounts Officer for examination before being finally kept for record.(5)The Mortgage bond shall be kept in the safe custody of the Sanctioning Authority. When the advance together with the interest and the penal interest, if any thereon has been fully repaid, the bond shall be returned to the Member duly cancelled after obtaining a certificate from the Accounts Officer as to the complete repayment of the advance and the interest and penal interest, if any, thereon.(6)The motor car purchased with the advance shall be insured against full loss by fire, theft or accident with the General Insurance Corporation of India or any subsidiary company thereto. The insurance policy shall contain a clause by which the Corporation or the Subsidiary Company agrees to pay to the Government instead of the owner any sums payable in respect of loss or damages to the motor car which is not made good by repair, reinstatement or replacement. Such insurance should be effected within one month from the date of purchase.
