(1) When the officer conducting the sale concludes the sale of movable property, the bidder shall pay the sale price for which the sale is concluded immediately to the said officer, in default of which the property shall be resold at his risk.
(2) Where the resale results in any loss to the Council, the bidder shall be liable for such loss.
(3) In the case of immovable property, the person who is declared to be the purchaser shall deposit twenty per cent of the sale price immediately after his bid is accepted, with the officer conducting the sale.
(4) The purchaser shall pay the balance within fifteen days from the date of sale of the property in the Office of the Council.
(5) Where the last day be a Sunday or a public holiday, then payment shall be made on the first working day immediately after such day.
(6) Where the purchaser does not pay the balance of sale price within the period specified under sub-rule (4), the property shall be resold at his risk.
(7) The purchaser shall forfeit all claims to the sale price realized on resale and if such resale results in any loss to the Council, he shall be liable for such loss.