Section 54 in The Punjab Town Improvement Trust Rules, 1939
54.
(1)No sum shall be expended by or on behalf of the Trust unless the expenditure is covered by a current budget provision or can be met by re- appropriation or by drawing on the closing balance.(2)The closing balance shall not be reduced below Rs. 25,000 without the previous sanction of the [the Director Urban Local Bodies, Punjab] [Punjab Government Notification No. G.S.R. 122 PA 45/22 Section/73/63 dated 29.5.1965.];(3)The following items shall be excepted from the provisions of sub- rules (1) and (2) above namely :-(a)repayment of moneys belonging to other persons and held in deposit, and of moneys collected by or credited to the Trust by mistake;(b)payments due under decree or order of a Court passed against the Trust or against the chairman ex-offico, or under an award of a tribunal constituted under sections 58 and 60 of the Act;(c)sums payable under a compromise of any suit or other legal proceeding or claims effected under section 96 of the Act;(d)sums payable to meet some pressing emergency.(4)Whenever any sum larger than Rs. 5,000 is expended under any of these heads, the chairman shall at once report the circumstances to the State Government and at the same time shall explain how the Trust proposes to cover the expenditure.
