Amendment status not verified — confirm the current text below against the official source.
(1) The General Council shall at such time and in such manner as may be prescribed to prepare in each financial year a budget of its estimated receipts and disbursements for the following financial year and submit it to the Government by 1st November of the current financial year. The Village Councils also shall prepare its budget in the like manner and shall submit the same to the General Council for consideration and onward transmission to the Government on or before the 1st October of the current financial year. (2) . The Government may within such time as may be prescribed, either approve the budget or return it to General Council or the Village Council concerned, as the case may ' be, for reconsideration on the observations of the Government, if any. The General Council or the Village Council concerned as the case may be, shail there-upon resubmit the budget along with its comments on the observation and if the approval of the Government upon such submission or resubmission as the case may be, is not received by the General Council or the Village Councils as the case may be, the budget shall be deemed to have been approved by the Government. (3) . No expenditure shall be incurred unless the budget of the General Council as well as the budget of the Village Councils are either approved or deemed to have been approved by the Government. THE ASSAM GAZETTE, EXTRAORDINARY, MAY 17, 2005 1625 CHAPTER-IX MISCELLANEOUS Effect of bye law, etc.