(1) A sum due to the Committee shall be paid at its office during hours as may be fixed by the Market Committee and shall be received by a person appointed for the purpose who shall sign and issue receipts thereof:
'Provided that receipts for amount exceeding Rupees One Hundred shall be countersigned by the Secretary or another employee authorised by him not lower in rank to that of Mandi Supervisor-cum-Fee Collector:
Provided further that the counter signature shall not be necessary in cases where the amount is received through Account Payee Cheques:
(2) An employee of the Committee appointed to receive or handle money on behalf of the Committee shall, before entering on his duties, furnish a cash security of Rs. 500 or personal security equal to four times the amount which he is expected to handle within a week. The Chairman shall be the final authority to determine the amount which a servant is expected to handle within a week, on behalf of the Committee :
Provided that this clause shall not apply to a person who has been appointed in stop gap arrangement from within the office.