Procedure for making contracts.

With respect to the making of contracts, the following provisions shall have effect, namely:- (a) every such contract shall be made on behalf of the Corporation by the Commissioner; (b) no such contract, for any purpose which in accordance with any provision of this Act the Commissioner may not carry out without the approval or sanction of the Corporation, shall be made by him until and unless such approval or sanction has been duly obtained; (c) every contract involving an expenditure not exceeding Rs. 10,00,000 or such higher amount as the Corporation may fix, may be made by the Commissioner: Provided that the contract exceeding Rs. 10,00,000 in value or such higher amount as the Corporation may fix, shall be made by the Commissioner only after prior approval of the Corporation. (c) every contract involving an expenditure not exceeding rupees ten lac or such higher amount as the Corporation may fix, may be made by the Commissioner: Provided that the contract exceeding rupees ten lac in value or such higher amount as the Corporation may fix, shall be made by the Commissioner only after prior approval of the Corporation.