Amendment status not verified — confirm the current text below against the official source.
(1) The Board may from time to time, with the previous sanction ·'of the State Government and subject to the provisions of this Act and to such conditions aS may be prescribed in this behalf borrow any swn required for the purposes of this Act. · (2) Rules made by the State Government for the purposes of this section may empower the Board to borrow by the issue of debentures and to make arrangements with bank.en. GUJ. GOVT. GAZ., EX., MAY ll>, 19'13/VA.ISA.KHA 26, ltttl'li !46 (J) All debentures issued by the Board shall be in such form as the Board . . ' with the sanction of the State Government may from time to time determine. ,,;. (.f) Every debenture shall be signed by the Chairman and one other member of the Board. · (5} Loans borrowed and debentures issued under this section may be guaranteed by the State Government as to the re~payment of principal and the ·p_ayment of interest at such rate as may be fixed by the State Government. .-, 3:2. (/) The Board shall cause to be maintained proper books of accounts.A.ooo~Ala, nd h h '-"k h !es · ll . _,, ,.ild audit.,. a sue ot er uuv s as t e ru may require and sha prepare 10 acco1uance with the rules an annual statement of accounts. (2) The Board shall cause its accounts to be audited annua11y by such person as the State Government may direct. (1) As soon as the accounts of the Board have been audited, the Board shall send a copy thereof together with a copy of the report of the auditor thereon to the State Government, and shall cause the accounts to be published and place copies thereof on sa1e at a reasonable '!)rice. (4) The Boa1d shaJI comply with such directions as the State Government m~y. after perusa1 of the report of the auditor, think fit to issue. {5) The· annual audited statement of accounts together with the report of the auditor received by the State Government under sub-section (3) shall be laid before the State Legislature as soon as may be after they are published. •