Submission of Budget to Board.

(1) The Chairman shall, at a special meeting to be held within the fifteenth day of the month of February in each year, lay before the Board, a budget of the Board for the next year. (2) Every such budget shall be prepared in such form as may be prescribed and shall make provision for- (i) the housing schemes which the Board proposes to execute whether in part or in whole during the next year; (ii) the due fulfilment of all the liabilities of the Board; and (iii) the efficient administration of this Act, and shall contain a statement showing the estimated receipts and expenditure on capital and revenue accounts for the next year, and such other particulars as may be prescribed.