Section 56 in The Punjab State Aid to Industries Rules, 1936
56. Mode of disbursement of the amount of subsidy.
- The whole amount of subsidy shall be deposited in a Scheduled Bank in the Joint account to be opened in the name of the applicant and the District Industries Officer or the Assistant District Industries Officer holding independent charge of the district concerned (hereinafter referred to as the Industries Officer) to be operated upon jointly or by the Industries Officer.The Industries Officer shall release the amount of subsidy in lump sum or in instalments against the actual purchase of machinery, tools, equipment etc., on production of invoice therefor to his satisfaction.
