Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall, on or before the thirty-first day of January in each year, hold a special meeting at which the Chairperson of the Board shall submit an estimate of the income and expenditure of the Board for the next financial year, in such form as the State Government may specify. (2) A copy of such estimate shall be sent by post, fax e- mail or otherwise to each member of the Board so as to 58 reach him not less than ten clear days prior to the date appointed for the special meeting referred to in sub-section (1). (3) The Board shall consider the estimate at such meeting and may provisionally approve it with or without modification. (4) The Board shall, on or before the tenth day of February of each year, cause a copy of such estimate as provisionally approved by it, to be sent to the State Government. (5) The State Government may sanction the estimate or may return it with remarks and may call for such additional information as it may deem necessary. (6) When an estimate is returned under sub-section (5), the Board shall proceed to reconsider the estimate with reference to such remarks and shall furnish such additional information as the State Government may call for and shall, as required, modify or alter the estimate and resubmit it to the State Government. (7) The State Government shall thereafter sanction the estimate with or without modification. (8) Where such estimate is not sanctioned by it before the commencement of the financial year to which it relates, the State Government may authorise the Board to incur such expenditure as may be necessary in the opinion of the State Government until such time as the final approval of the estimate is communicated to the Board. Preparation of supplemental estimates.