Amendment status not verified — confirm the current text below against the official source.
Power lo amend the Statutes : (1) The Statutes as sbted in the Act may be amended or new Statutes may be added by the Board of Managemenl which needs to be approved by Board of Governors; (2) The Board of Governors shall submit the new and amended Slatutes to the S1ale Government for its approval, which may, within three monlhs from the date of receipt of the Statutes give its approval with or without modilications; (3) Where the Sate Government fails to take anydecision with respect to the approval ol Statutes within the period specilied under sub- section(2), it shall be deemed to have been approved by State Government I