Amendment status not verified — confirm the current text below against the official source.
(1)~Every-contractshallbernadein thenameof theY3oa.d and shall be signed for and on behalf of the Board by the chairman .' : . Provided that no conbacr involving an expenditure or property bf the value of five-lakh rupees or more shall be made without the prehous sanction of the Government. ,.,. . f I ' ( 2 ) ' ~ v e r ~ eontract shall, subject to the of this section, be entered into in such manner and form as'may be prescribed. . , . ' (3) A contract i;oi 1nad.e or execuiod as pxovided in this . , . section and the rulesmade thereunder shall not be binding on the Board. .