Amendment status not verified — confirm the current text below against the official source.
General powers of Board.- The Board shall, for the purposed of carrying out its functions under this Act, have the following powers, namely:- (i) to acquire and hold such movable and immovable property as it deems necessary and to lease, sell or otherwise transfer any such property: Provided that in the case of immovable property such power shall be exercised with the previous sanction of the State Government; (ii) to incur expenditure and undertake any work in any area in the State for the farming and execution of such schemes as it may consider necessary for the purpose of carrying out the provisions of this Act or as may be entrusted to it by the State Government; and (iii) to enter into any contract for the purpose of this Act; and (iv) to do all things necessary in the furtherance of the objects of the Act. 15A.Constitution of Standing Finance Committee. – (1) The Board may constitute form amongst its members, a Standing committee consisting of the following members: (i) The Chairman, (ii) The Chief Executive Officer, and (iii) Three members elected form amongst the members of the Board. (2) The financial Adviser to the Board shall be permanent invitee to the Standing finance Committee. (3) The Standing Finance Committee shall exercise such powers and perform such functions relating to the finances of the Board as may be delegated to it be the Board.