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[Cites 0, Cited by 0] [Section 35(2)] [Section 35] [Entire Act]

State of Punjab - Subsection

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

(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.