Section 22: Estimates
consolidated text (as at 2011, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
22. Estimates
(1) The Board shall, not less than 3 months before the beginning of every
financial year, submit to the Minister an estimate of the income and expenditure of the Board for the financial year.
(2) (a) The Minister shall, before the beginning of the financial year, but
subject to paragraph (b), signify in writing to the Board his approval of the
estimate.
(b) In signifying his approval under paragraph (a), the Minister may—
(i) approve part only of the expenditure under any item;
(ii) direct the Board to amend the estimate in respect of any item.
(3) The Corporation shall not incur any expenditure in excess of
100,000 rupees unless it has been approved by the Minister under this
section.
(4) No contract, the consideration for which is in excess of
50,000 rupees, shall be awarded by the Corporation unless the award has
been recommended by a committee of members appointed for that purpose
in accordance with the procedure laid down by the Board.
(5) —