Restriction on Unbudgeted Expenditure

(1) Save wherein the opinion of the Board circumstances of extreme urgency have arisen, no sum exceeding such amount, as the Board may from time to time, fix in that behalf on account of recurring or non-recurring expenditure, shall be spent in any Financial Year unless sum has been sanctioned by the Board. (2) Where any such sum is spent in circumstances of extreme urgency, a report thereon, indicating the expenditure, shall be submitted to the Board in its next meeting.