Adherence to estimate and maintenance of closing balance.

Civil1960160 sections7 chapters

Chapter V FINANCE

Statutory text

(1) No sum shall be expended by or on behalf of the Board unless the expenditure of the same is covered by a current budget grant or can be met by reappropriation or by drawing on the closing balance. @ The closing balance shall not be reduced below such limit as may be fixed in this behalf by the Government from time to time. RN
(3) The following items shall be exempted from the provisions of sub-sections (1) and (2), namely :—
- (a) repayments of moneys belonging to contractors or other persons and held in deposit, and of moneys collected by, or credited to, the Board by mistake;
- (b) payments due under a decree or order of a court or under an award of the Tribunal;
- (c) sums payable under a compromise of any suit or other legal proceeding or claim effected under this Act;
- (d) sums payable under this Act by way of compensation; and
- (e) Payments required to meet any pressing emergency.
(4) Whenever any sum exceeding five thousand rupees is expended under clause (¢) of sub-section (3), the Chairman shall lorthwith repor the circumstances to the Government explaining how the Board proposes to cover the expenditure.

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