Obligations related to value of procurement.

(1) A procuring entity shall obtain the approval of the authority having the necessary financial powers before initiating a procurement process. (2) A procuring entity shall neither split its procurement nor use a particular valuation method for estimating the value of procurement so as to avoid its obligation under sub-section (1) or to limit competition among bidders or otherwise avoid its obligations under this Act: Provided that in the interest of efficiency, economy and timely completion or supply, a procuring entity may, for reasons to be recorded in writing, and with prior approval of the Administrative Department split its procurement into appropriate packages.