Section 25 in Oil Industry (Development) Rules, 1975
25. Contacts.
(1)The Board may enter into any contract for the discharge of the duties entrusted to it under the Act:Provided that every agreement or contract for technical collaboration or Consultation services with firms or foreign exchange shall require the previous sanction of the Central Government.(2)The Board may delegate to the Chairman or to the Secretary or to a member, the power of enter into contract on its behalf to such extent as it deems fit.(3)Contracts shall not be binding on the Board, unless they are executed by the Chairman, a members or any officer of the Board so authorized by the Board.(4)Neither the Chairman nor any officer of the Board nor any member thereof shall be personally liable under any assurances or contracts made by the Board and any liability arising under such assurances or contract shall be discharged from the moneys at the disposal of the Board.
