52B. [ Execution of contracts and approval of estimates. [Inserted by section 17 of C. P. and Berar Act XXXIV of 1949.]
(1)Every contract shall be made on behalf of the Trust by the Chairman :[Provided that, a contract involving an expenditure exceeding fifty lakh rupees shall not be made by the Chairman without the previous sanction of the Trust.](2)Every estimate for the expenditure of any sum for carrying out any of the purposes of this Act shall be subject to the approval of the authority or authorities empowered under sub-section (1) to make, or as the case may be, to sanction the making of, a contract involving the expenditure of a like sum.(3)No contract or estimate requiring the sanction of an authority or authorities specified in sub-section (1), as the case may be, shall be varied or abandoned except with like sanction:Provided that the Chairman may sanction the variation where it does not involve an expenditure of more than 10 per cent. of the amount of the original contract or estimate.]
