Amendment status not verified — confirm the current text below against the official source.
Guarantn for Loans.-(!) Governm~nt may guarantee the repayment of' any loan and payment of interest on all loan~ made ot transf<'l'l'ed to he Authonty for the purposes of this Act; · (2) The Govcrnme:nt shall s? long as any such gua1antee is in fOJc<", lay before the State Legtslatur,~ m every· year durmg the budget ~ession, .t statement of the guarantees, if any, g1ven durmg the current finan<!i,ll yeat and up·to-date·account<; of the tot'll sum~, 1f any, which have hcen p'lld out of tile Consolidated Fund of the State by rea~on of any such gu.u,mte~ or paid Into the sa1d Fund towards repayment of any mowys so p.11d out 23 Estzmates of mcome and expenditure -( l) The Authorit~ shall hefo'l'<: the commencement of, ano n ay at any time during, a fma:nci.tl year prepare a statement or a supplementary statement, as the case uwv lw, ol th r programme ol Its activities durmg the ye=1r as well as a· hu,mctal csllluate m respect thereof • and the same shall be submitted in such mannc1, lll such fonn and by such dates as the Governmc11t may, by general or special order, d1rect, fvr the previous approval of the Government: Provided tqat m the event of such previou~ appro .raJ not heing received before the commencement of the hnanc1al year for which ~uch !m,mcial state- ment ~as been submitted, the Author1ty ~h,11l he cntllh:d to expcud on all accounts up to an amount not exceeding the am Junt .1pprovet1 J 01 tht; corrc:s• ponding pc.riod ol the preVIOUS financial year .1nd such amount ~hall not include any sum spent out of grants and subventions du11ng the s.uq p('nod (2) Every financial estimate referred to in sub-section ( 1) shallma.kc p10V1sion for the due fulfilment of all the liabilities of the 1\uthority .tml for the efficient administration of thts Act. 1 • • (3) Save where m the opmwn of the Authority cit cumstance'> of extreme urgency have ansen, no sum exceeding one lakh of rupee-, on account of rf'curnng eA.p~ndt ture or exceeding five lakh~ of rupee~ on account of non-recurring expenditure shall be expended by the Authority many yea1 of account unless such sum has been included in a fi.ndncial estimate suom\tted under sub-section (1) to the Government . • (4) \:\'here any such sum is expended under em um~t<lllCC'> of' extreme urgency, a report thereon indicatmg the ~ources lrolll wluch 1t i~ proposed to meet the expendtturt" shall be made a~ '>oon as practi<.:.tble to the Government. (5) The Government shall cause the financial estimates ol' the Autlionty CfCetved by it under sub-secuon ( l) to be laid <:tnnua lly before the State Leg1slature. •