Execution of Contracts and approval of estimates

(1) The Board may enter into and perform such contracts as it may consider necessary or expedient for carrying out any of the purposes of this Act. (2) Every contract shall be accepted and executed on behalf of the Board by the Managing Director or if so, authorised by the Board, by the Chief Engineer, Superintending Engineer or Executive Engineer provided that the Board shall determine the maximum value of contracts to be executed and sanctioned by such authorised officers. (3) Administrative approval for execution of schemes or for the expenditure for carrying out any of the purposes of this Act, shall be accorded- (a) by the Managing Director amount not exceeding rupees fifty thousand, (b) by the Board, amount exceeding rupees fifty thousand but administrative approval for schemes as per expenditure exceeding rupees two hundred lakhs shall not be accorded without the prior approval of the State Government. (4) Sub-sections (2) and (3) shall apply to every variation or abandonment of a contract or estimate, as well as to original contract or estimate. Seventhly any outlay on additions or improvements to land acquired which was incurred after the date with reference to which the market value is to be determined unless such additions or improvements were necessary for the maintenance of any building in a proper state of repair. Any application which is incomplete in any respect is liable to be rejected as invalid.