When the State Government - _9~c_!d_e_stq _atj:a~hany funds, the follOwingprocedure Willbe observed,-namely:-
(a) The State Government Will issue a notice to the- Panchayat, prohibiting the collection or management of such funds by the Panchayat, and vesting the administration thereof in such officer as the Government may appoint. The Government will cause such notice to be published in the Gazette such other manner as it may deem fit Within the local limits of the area subject to the control of the Panchayat..
(b) The officer appointed by the State Gov,ernment shall pay money collected or received under such attachment t6 the lender, or in the case of a Government loan, into the GovernmentTreasuxy. -
(c)The said officer shall prepare the accounts of money so collected, and of the cost of collection, in such form as the State Government may from time to time direct. He shall deliver a copy of the accounts to thePanchayat.