Public Accountants´ Default Act, 1850

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THE PUBLIC ACCOUNTANTS’ DEFAULT ACT, 1850 
 
 
 
CONTENTS 
 
1.  Public Accountants to give security 
2.  Amount and kind of security and with what sureties 
3. “Public accountant” defined.   
4.  Prosecution of accountants and sureties 
5.  Enactments applied to proceedings by and against accountants 
6.  [Validation of former rules.] Rep. by the repealing Act, 1870 (XIV of 1870). 
 

 
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1[THE PUBLIC ACCOUNTANTS’ DEFAULT ACT, 1850] 
ACT No. XII OF 1850 
[22nd March, 1850] 
For avoiding loss by the default of Public Accountants 
 Preamble. For better avoidance of loss through the default of public accountants; It is 
enacted as follows:__ 
 1. Public Accountants to give security.   Every public accountant shall give security for the 
due discharge of the trusts of his office, and for the due account of all moneys which shall come into 
his possession or control, by reason of his office.  
 2. Amount and kind of security and with what sureties.  In default of any act having 
special reference to the office o f any public accountant, the security given shall be of such amount 
and kind, real or personal, or both, and with such sureties (regard being had to the nature of the 
office), as shall be required by any 2rules made or to be made from time to time, by the authority by 
which each public accountant is appointed to his office, 3*  * * .  
 4[3. “Public accountant” defined.   For the purposes of sections 1 and 2 of this Act, the 
expression “public accountant” means any person who as Official Assignee or Trustee, or as 
sarbarahkar, is entrusted with the re ceipt, custody or control of any moneys or securities for money, 
or the management of any lands belonging to any other person or persons; and for the purposes of 
sections 4 and 5 of this Act the expression shall also include any person who, by reason of any office 
held by him in the service of 5[Pakistan] is entrusted with the receipt, custody or control of any 
moneys or securities for money, or the management of any lands belonging to the  6[Government].] 
 4. Prosecution of accountants and sureties.  The person or persons at the head of the office 
to which any public accountant belongs may proceed against any such public accountant and his 
sureties for any loss or defalcation in his accounts, as if the amount there of were an arrear of land -
revenue due to Government. 
 
 
1Short title given by the Short Titles Act, 1897 (14 of 1897). 
This Act has been declared to be in force in all the Provinces and the Capital of the Federation, except the Scheduled Distri cts, by the L aws Local 
Extent Act, 1874 (15 of 1874), s. 3. 
It has been declared by notification under s. 3(a) of the Scheduled Dis tricts Act, 1874 (14 of 1874), to be in force in the following other Scheduled 
Districts, namely:__ 
The Districts of Thar and Parkar, and the Upper Sind Frontier—see Gazette of India, 1880, Pt. I, p. 672. 
It bas been extended, by notification under s. 5 of the last-mentioned Act, to the Scheduled Districts of the Punjab (some of the Districts now form part 
of the N.W.F.P.), see Gazette of India, 1883, Pt. I, p. 505. 
The Act has been applied to Baluchistan by the Baluchistan Laws Regulation, 1913 (II of 1913), s. 3, as amended by Regulation I of 1945. 
It has been extended to the Leased Areas of Baluchistan, see the Leased Areas (Laws) Order,  1950 (G.G.O. 3 of 1950); and also applied in the 
Federated Areas of Baluchistan, see Gazette of India, 1937. Pt. I, p. 1499. 
2For rules made by the Govt. of Bombay, see Sind Official Gazette, 1896, Pt. I, pp.198, 228,244,262 and 276. 
3The words “subject to the approval of the Governor or G. in C. of the Presidency or place” rep. by A. O., 1937. 
4Subs. Ibid., for the original section 3. 
5Subs. by F. A. O., 1975, Art. 2 and Sch. for “the [State]”. The words in crotchets were first subs. by A.O., 1949 and the n amended by A.O., 1961, to 
read as above.  
6Subs. by A. O., 1961, Art. 2, for “Crown” (with effect from the 23rd March, 1956). 
 
 
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 15. Enactments applied to proceedings by and against accountants.  All Regulations and 
Acts now or hereafter to be in force fo r the recovery of arrears of land -revenue due to Government, 
and for recovery of damages by any person wrongfully proceeded against for any such arrear shall 
apply, with such changes in the forms of procedure as are necessary to make them applicable to the  
case, to the proceedings against and by such public accountant2. 
 6. [Validation of former rules.] Rep. by the Repealing Act, 1870 (XIV of 1870). 
 
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Date: 13-09-2024 
1This section has been amended in its application to the P rovince of West Pakistan (except the Capital of the Federation) by West Pakistan Act 16 of 
1957, s(3) and III Sch. (with effect from the 14th October, 1955). 
2For the law relating to the recovery of revenue-arrears, see the Revenue Recovery Act, 1890 (1 of 1890).