Amendment status not verified — confirm the current text below against the official source.
(1) On the election of a new President or Vice-President, it shall be the duty of the retiring President or, as the case may be, Vice-President to hand over to him the charge of the respective office and deliver to him the record and property belonging to the Panchayat concerned and in the latter's custody. (2) The provisions of sub-section (1) shall apply mutatis mutandis to a retiring member in the matter of handing over of charge of his office. 46B[(3) Where the President or Vice-President of a Panchayat refuses to hand over charge of his office or any documents or money or other properties vested in, or belonging to the Panchayat which are in his possession or control or which had come into his possession or control, to his successor in office or other prescribed authority as soon as his term of office as President or Vice-President expires and in the case of the Vice-President, immediately on demand by the President, such President or Vice-President shall, on conviction, be punished for such offence with a fine which shall not exceed ten thousand rupees] Sub-section (3) inserted by Act 34 of 2014 (w.e.f. 14/06/2010).