Budget :

(l ) The Chairperson shall place at every annual meeting a Budget estimate, in such form as may be prescribed, showing the anticipated income and expenditure of the Board during the financial year in which the annual meeting is h.eld' (2) The Budget estimate shall, after confirmation by the Board, be forwarded to the Sponsoring Body within such time as may be prescribed. (3) The Sponsoring Body shall, within one month of the receipt ol the Budget Estimate, either accord its approval thereon or return it to the Board with such comments and suggestions as it may deem necessary if, in its opinion such estimate:- i, is not reasonable or accurate with reference to the ascertainable facts; ii. includes new items of recurring expenditure which are likely to impose upon the Board in the future financial liabilities which the Board is not likely to be able to meet from its income; or iii, includes provisions for such expenditure which are not in accordance with the provisions of this Act, (4) lf the Budget Estimate is returned under sub-section (3), the Board shall consider the comments and suggestions made by the Sponsoring Body and may, if it thinks fit, revise