Budget estimate

26.(1) At least two months before the close of the year, the Corporation shall have prepared a complete account of the actual and expected receipts and expenditure for that year together with a budget estimate of the income and expenditure of the Corporation for the next year. (2) When the budget has been passed at a meeting, the Corporation shall obtain the approval of the State Government and shall not incur any expenditure except in accordance with the budget approved by the State Government. (3) A revised or supplementary budget may be passed by the Corporation in the course of the year and, if approved by the State Government, the Corporation may incur expenditure in accordance with the revised or supplementary budget.