Amendment status not verified — confirm the current text below against the official source.
"The Authority shall prepare or cause to be prepared in consultation with the Executive Group every year, in such form and at such time as may be prescribed, an annual budget estimate in respect of the next financial year showing the estimated receipts and disbursements of the Authority and shall submit a copy thereof to the State Government for prior approval before incurring any expenditure from the Budget provisions. Subventionsand16."(1) The State Government may, from time to time. Loans tothe Authority. make subventions to the Authority for the purpose of this Act on such terms and conditions as the State Government may determine. (2) The State Government may, from time to time, advance loans to the Authority on such terms and conditions, not inconsistent with the provisions of this Act, as the State Government may determine. TIffi=,ASSAM GAZETTE. EXTRAORDINARY, JULY 28,2006 1243 Powers of the Authorityto borrow; , Accountsand Audit.