Section 21 in The Punjab Official Trustees Rules, 1966
21. Investment of the floating cash balances.
[Section 30(2)(b)]. - (1) The Official Trustee may, from time to time, invest any portion of the floating cash balance standing to the credit of his personal ledger account with the Treasury in fixed deposit with the Bank and the interest accruing on such investment shall, from time to time, be credited to an account to be called the General Purposes Fund.(2)The amount of the General Purposes Fund may be applied by the Official Trustee, for meeting any the following charges :-(a)Office contingencies.(b)Bank's Commission.(c)Pay of menials.(d)Adjustment of accidental irrecoverable debits against trusts.(e)Stationery and Printing.(f)Travelling expenses.(g)Audit fee.(h)The expenses of any suit, including the personal fees of the Official Trustee under sub-rule (2) of rule 5 and those of counsel whom he may engage with or in substitution for himself; and also the expenses and fees of counsel engaged by the Official Trustee and of experts and arbitrators to whom any matter may be referred whether any such suit is instituted or not :Provided that the General Purposes Fund shall not be applied to meet such expenses and fees in any single suit or reference beyond the maximum of Rs. 500.00 without the sanction of the Government.(i)Cost of publishing notices, notifications, and citations connected with trusts.(j)Miscellaneous.(3)Should the General Purposes Fund at any time be more than sufficient to meet the charges likely to be met from it in terms of the preceding clause, any excess balance may at the end of a half-year be further invested to make provision for any possible further expenditure under any of the above heads, or the like.(4)The said account may be kept jointly with the General Purposes Fund Account of the Administrator-General and operated upon by the Administrator- General and Official Trustee in his joint capacities.
