Amendment status not verified — confirm the current text below against the official source.
Accounts and audit.- (l) The Nigam and a Jal Sansthan shall before the commencement of, and may at any time during a financial year, prepare a statement or a supplementary statement, as the case may be, of programme of its activities during that year as well as financial estimate in respect thereof and the same shall be submitted in the case of Nigam to the State Government and in the case of Jal Sansthan to the Nig<lm in such manner, in such form and by such dates as the State Government may, by general or special order direct, for the previous approval of the State Government or the Nigam, as the case may be: Provided that in the event of such previous approval not being received before the commencement of the financial year for which such financial statement has been submitted, the Nigam or the Jal Sansthan, as the case may be, shall be entitled to expend on all accounts up to an amount not exceeding the amount approved for the corresponding period of the previous financial year and such amount shall not include any sum spent out of the grants and subventions during the said period. (2) The Nigam and a Jal Sansthan shall cause to be maintained such proper books of account and other books in relation to its accounts and prepare the balance-sheet in such form and manner as the regulations may require. ___________ 18.Ins. by U.P. Act 28 of 1978 (w.e.f. 1-8-1978). 19.Subs. By U.P. Act 28 of 1978 (w.e.f. 1-8-1978).