Section 8(3) in The Punjab Agricultural Produce Markets (Election to Market Committees), Rules 1961
(3)If a candidate by whom or on whose behalf the deposit referred to in sub- rule (1) has been made is not elected and the number of votes polled by him is less than one half of the votes polled by the candidate who is declared elected with the least number of votes, the deposit shall be forfeited to the Board.
