Lapsable


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Laps´a`ble


a.1.Lapsible.
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The PAC had summoned the secretary finance to seek a reply in a case of illegal transfer of billions of rupees funds from lapsable accounts to non-lapsable account, and releasing of budget near the end of the fiscal year.
The illegal activity of transferring taxpayers' money from a lapsable account to a non-lapsable account through bogus paperwork has been going on for the last many years.
The deputy financial adviser disclosed before the PAC that the finance secretary personally cleared the files to transfer the funds from lapsable to non-lapsable accounts.