Amendment status not verified — confirm the current text below against the official source.
Mode of executing contracts and transfer of property. - (1) Every contract made by or on behalf of the committee of any municipality of the first class whereof the value or amount exceeds one hundred rupees, and every contract made by or on behalf of the committee of any municipality of the second 7[and third class] whereof the value or amount exceeds fifty rupees, shall be in writing, and must be signed by two members, of whom the President or a Vice President shall be one, and counter- signed by the Secretary : Provided that, when the power of entering into any contract on behalf of the committee has been delegated under the last foregoing section, the sig- nature or signatures of the members to whom the power has been dele- gated shall be sufficient. (2) Every transfer of immovable property belonging to any committee must be 36 The Punjab Municipal Act, 1911, Section 45