Subventions, loans and grants to the Board

(1) The Government may, from time to time make subventions and grants to the Board for the purposes of this Act on such terms and conditions as the Government may, in each case, determine. (2) The Government may, from time to time advance loans to the Board on such terms and conditions not inconsistent with the provisions of this Act as the Government may determine. The Standing Finance Committee shall deal with all applications to the Board for sanction of financial assistance and all sanctions pertaining to the Budget and other financial matter of the Board which are not within the power of any officer under the control of the Board and any other matter assigned by the Board the functions of the Standing Finance Committee will be governed as follows:-(i) Term of office and conditions for reappointment of the members of the Standing Finance Committee. The members of the Standing Finance Committee shall hold office so long as they continue to be members of the Board and shall on the expiry of their terms of office be eligible for reappointment if they are reappointment as members of the Board.(ii) Resignation of office by members:- Any member of the Committee may resign his office at any time and such resignation shall take effect from the date from which it is accepted by the Board.(iii) Meeting of the committee:- The committed shall meet at least once a (iv) Agenda:- The Secretary shall send to each members sufficiently in advance, a copy of the agenda for the meeting together with the notices, if any, on the various subjects includes therein. (v) Special meeting on requisition by members:- The Secretary shall also with the concurrence of the Chairman call for special meetings of the Committee on written requisitions signed by not less two members of the Committee. (vi) Meeting to consider Budget:- There shall be an annual meeting of the Committee to consider the Budget of the Board. The Committee shall also meet to consider any supplementary Budget of the Board. (vii) place of meeting:- Unless the Board, otherwise directs all meetings of the Committee shall be held at the head quarters of the Board. (viii) Presiding Authority:- The Chairman shall preside at every meeting. In his absence, the members present shall elect a Chairman from among themselves. (ix) Quorum:- (a) Quorum for a meeting of the Committee shall be 3 including Chairman. (b) If, there is not Quorum within 30 minutes of the time appointed for the meeting., no meeting shall be held and the Chairman may than and there adjourn meeting to a specific date. No quorum shall be necessary for an adjourned meeting. (c) If, at any time during the course of the course of the meeting after its commencement, there is no quorum. it shall not be dissolved but shall continue to be held. (x) Matters to be discussed in the meeting:- a) Copies of the Agenda and notes on the subjects included therein shall be made available to the members if required during the meeting. b) No matter other than what is included in the agenda for the meeting shall be considered or discussed at the meeting except with the permission of the Chairman, who may, if he / she considers necessary, put the questions to vote. c) No matter shall be considered at an adjourned meeting other than the matter left over at the meeting from which the adjournment took place. Provided that the Chairman may with due notice bring or direct to b brought before an adjourned meeting any new matter which in his her opinion is urgent. d) The Chairman may, without any notice, ring or direct to be brought before a meeting adjourned or otherwise any new matter which in his / her opinion is urgent. e) Any point of order raised in a meeting shall be decided by its Chairman whose decision shall be final. (xi) Voting and decisions: a) The members of the Committee including the Chairman shall have one vote each. b) All question shall be decided by a majority of votes of the members present. In the event of an equality of votes, the chairman shall have and exercise a casting a casting of second vote. (xii) Officers of the Board not being members thereof or such persons, whose participation in the meeting is considered necessary may be invited to attend meeting of the committee. (xiii) In case not expressly provided for in the rules, the decisions of the Chairman presiding at the meeting on all matters relating to the conduct of business at the meeting shall be final. (xi) Proceedings of the meeting: a) The proceedings of every meeting shall be recorded and complied by the Secretary, in an appropriate manner subject to approval of the Chairman, a copy being communicated to each member. b) No proceedings of the committee shall be invalidated by reason merely of a vacancy or vacancies existing in the committee or by reason of non-receipt of notice or the agenda for the meeting or both, provided it was duly issued or by any reason of irregularity in the conduct of the business of the meeting.