Amendment status not verified — confirm the current text below against the official source.
The Board may compound or compromise any claim or demand or any action or suit instituted by or against it for such sum of money or other compensation as it deems sufficient: Provided that no settlement shall be made under this section without the previous sanction of the State Government if such settlement involves the payment by the Board of a sum exceeding such amount as may be specified by the State Government in this behalf. Power to reserve Maritime Board securities for Board's own invest- ments. Prior sanction of the Government to charge expenditure to capital. Works requiring sanction of Board or State Government. Power of Chairman as to execution of works. Power of Board to compound or compromise claims. The Gujarat Maritime Board Act, 1981 32 of 42