Section 62 of The Punjab Reorganisation Act, 1966 in hindi — Items in suspense
Bare section text
Official Legislative Text
If any item in suspense is ultimately found to affect an asset or liability of the nature referred to in any of the foregoing provisions of this Part, it shall be dealt with in accordance with that provision.
Educational Study Layer
Summary
- This section acts as a safety net for any financial items whose true nature is temporarily unclear.
- It states that once an item in suspense is finally identified, it must be handled according to the specific rule for that type of item.
- This ensures that uncertain items are not lost but are eventually processed correctly under the existing rules.
Practical examples
FAQ
1. How does Section 62 of the Punjab Reorganisation Act, 1966 treat items in suspense?
Section 62 of the 1966 Act states that once a suspense item is identified as a specific type of asset or liability, it is dealt with using the provision for that specific type.
2. Does Section 62 of the 1966 Act create new rules for apportioning assets?
No. Section 62 of the Punjab Reorganisation Act, 1966 simply points the item to the relevant foregoing provision once its nature is discovered.
3. What is required before an item in suspense can be apportioned under Section 62 of the Punjab Reorganisation law?
Under Section 62 of the 1966 Act, it must ultimately be found to affect an asset or liability of a nature referred to in the other provisions.
Practice Quiz
Q1.According to Section 62 of The Punjab Reorganisation Act, 1966, how are items in suspense ultimately resolved?
Q2.If an item in suspense under Section 62 of the 1966 Punjab Reorganisation Act is ultimately found to relate to an actionable wrong, which other section's rules will apply to it?
Q3.What must happen to an item in suspense under Section 62 of The Punjab Reorganisation Act, 1966 before it can be apportioned?
Q4.If a suspense item under Section 62 of the 1966 Punjab Reorganisation law is found to be a state guarantee for a cooperative society, which section dictates its final allocation?