Section 12 in Powerloom Registration Funds Rules, 1992
12. Powers and functions of Board.
- The Board shall have the following powers and functions, namely:-(a)to regulate and sanction any expenditure which the Board may consider it to be necessary or desirable in furtherance of the objects of the fund;(b)to accept gifts, donations, endowments and set up a corpus for any specific purpose consistent with the objects of the fund;(c)(i)the Board is empowered to appoint the staff of the Board whose total emoluments exceed Rs. 2,000 per mensem on such terms and conditions as may be decided by the Board,(ii)The Member-Secretary and Treasurer of the Board shall appoint the staff, other than those mentioned in sub-clause (i) of this clause on such terms and conditions as may be decided by him;(d)The Board may transact business, if found necessary, by circulation of papers among the members of the Board;(e)The Board may authorise the Member-Secretary and Treasurer either individually or jointly with any other member of the Board to operate the Fund;(f)The Board shall have powers to frame additional rules or modify these rules:Provided that such additional rules or modified rules shall not be inconsistent with the objects of the Fund;(g)The Board shall have powers to constitute any committee for implementing one or more objects of the Fund, from among its members;(h)The Board shall prepare every year budget for the year. The members of the Board and the Committee so constituted is responsible to the Board in respect of matters entrusted to it, and furnish a report of the work already done during the course of the year to the State Government as also the annual statement of Accounts duly audited in accordance with rule 5;(i)the Board shall arrange for the maintenance of regular works of accounts regarding the financial transactions of the Fund and for the maintenance of book in which minutes of the proceedings of the Board and its meetings shall be recorded.
