Section 7(2) in The Punjab Legislative Assembly (Grant of Advance to Speaker and Deputy Speaker) Rules, 1979
(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.
