Section 7 in The Punjab Legislative Assembly (Grant of Advance to Speaker and Deputy Speaker) Rules, 1979
7. Grant of advance for the purchase of motor car.
- The Speaker or the Deputy Speaker desirous of getting advance for the purchase of Motor-car, shall apply to the Sanctioning Authority in Form 'F' accompanied by an irrevocable Bank Guarantee worth not less than the amount of advance required or a surety bond in Form 'H' executed by the person having immovable property worth not less than amount of advance required.(2)The Sanctioning Authority shall sanction a repayable advance to the Speaker or the Deputy Speaker for the purchase of a Motor-car, subject to the following conditions :-(i)The Speaker or the Deputy Speaker shall execute an agreement in Form (1) before the drawal of the advance;(ii)The Speaker or the Deputy Speaker shall purchase the Motor-car within a period of one month from the date of drawal of the advance;(iii)The Speaker or the Deputy Speaker shall hypothecate the Motor-car in favour of the Government in Form 'G' before its registration or within a period of fifteen days from the date of purchase thereof, whichever is earlier.(iv)The Speaker or the Deputy Speaker shall get Motor-car comprehensively insured during the period the advance along with interest is not fully repaid; and(v)The Speaker or the Deputy Speaker shall, while applying for registration, state that the Motor-car is subject to the hypothecation in favour of the Government as envisaged in Form 'E' set forth in the first Schedule appended to the Motor Vehicles Act, 1939.(3)The Sanctioning Authority shall furnish to the Accountant-General, Punjab, a certificate to the effect that a deed in Form 'G' hypothecating the Motor-car in favour of the Government has been got executed from the Speaker or the Deputy Speaker and that it has been found to be in order.
