(a)Security shall be taken from the Secretary of the Grama Sasan, the amount of which shall not exceed the amount of cash and the money value of the valuables handled or likely to be handled by the Secretary. Such security shall be either (i) in cash; or (ii) Post Office Savings Bank Deposit; or (iii) Government Treasury Notes; or (iv) National Savings Certificates; or (v) National Defence Certificates.(b)In exceptional cases, where the Secretary is not able to render security either in lump sum or any other of the kinds specified in this rule, the security due shall be obtained from him in instalments by reduction of 10 per cent of the salary or such other sum as would make up the security in three years ;Provided that until the full amount of security required in cash has been recovered, personal security may be obtained for not less than double the security required in cash from persons who are solvent to the satisfaction of the Sarpanch or security in immovable property not less than double the amount of security required in cash shall be taken. In later case, the Sarpanch shall satisfy himself that the property accepted as security is free from all encumbrances and that the person tendering such security has absolute title over it.
