Amendment status not verified — confirm the current text below against the official source.
(1) The budget of the University showing the receipt and expenditure of the University on different accounts for a financial year shall be submitted to the, State Government for approval at least four months before the beginning of such financial year in such form as may be specified by the State Government. (2) The State Government shall, at least two months before beginning of the financial year to which the budget relates, communicate its approval or otherwise of the budget to the University: Provided that the State Government shall release grants to the University to incur expenditure till the budget is approved. PART III] THE KOLKATA GAZETTE, EXTRAORDINARY, SEPTEMBER 2, 2004 21 The Bengal Engineering and Science University, Shibpur Act, 2004. Provident Fund. Annual Accounts and Audit. Inspection. (Chapter V.—Funds of the University, Accounts, Audit and Inspection.—Sections 40-42.) (3) Notwithstanding anything to the contrary contained in this Act, the University shall not, except with the prior approval of the State Government, incur any expenditure on any account to excess of the amount specified in the budget on that account: Provided that no such prior approval shall be necessary in respect of any expen- diture on any scheme not provided in the budget, if such expenditure is met by the University out of its own resources.