Execution of contract.

(1) Every contract shall be made on behalf of the Board by the Chairman or such other member or officer of the Board as may be authorised by it in this behalf: Provided that- (a) no contract involving an expenditure exceeding rupees fifty lacs shall be made except with the previous sanction of the State Government; (b) no contract involving an expenditure of twenty-five thousand rupees or more shall, subject to clause (a) above, be made without the previous sanction of the Board. (2) Sub-section (1) shall apply to every variation or abandonment of a contract or estimate as well as to an original contract or estimate.