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[Cites 0, Cited by 0] [Section 35] [Entire Act]

State of Punjab - Subsection

Section 35(2) in The Punjab School Education Board Financial Regulations, 1979

(2)The following shall be the procedure for the disposal of losses unserviceable/broken/surplus articles.
Serial No. Name of Authority To declare surplus to requirement articles costing upto To declare unserviceable/ broken articles costing upto To dispose of by public auction or by inviting sealed tenders(as the case may be) after obtaining approval of the competentauthority to declare surplus/ broken/ unserviceable articlescosting upto.
    Rs. Rs. Rs.
(i) Secretary *1,000/- ***5,000/- 5,000/-
(ii) Vice-Chairman 2,000/- ***10,000/- 10,000/-
(iii) Chairman -5000 ***25000/- **100,000/-
(iv) Board     Full Powers
*Amended vide Boards item No. 24 dated 20-10-1987.**Amended vide Boards item No. 6 dated 29-3-1989.***Amended vide Boards item No. 24 dated 30-6-1990.
(i)In all cases, the disposal shall be by public auction or sale by inviting sealed tenders. The articles will be sold to the highest bidder or the highest tenderer, as the case may be.
(ii)The articles should not be spilt up to avoid sanction of the higher authority.
(iii)In the case of articles lost, damaged or stolen the value of such articles for the purpose of writing off loss/recovery from the defaulter, as the case may be, shall be fixed by a committee to be appointed by the Chairman.
The value so determined shall be subject to the approval of the Chairman.
(iv)For determining the appropriate value of the articles, the Committee shall take into account the purchase price, possible wear and tear during the period it was used, the probable life of the articles, and the circumstances under which such loss or damage was caused. Where it is established that the loss was caused with a mala fide intention and responsibility is fixed, the committee while assessing the price of the articles, shall also take into account the market price of the article.
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