123. Adherence to estimate, and maintenance of closing balance.
(1)No sum shall be expended by or on behalf of the Board unless the expenditure of the same is covered by a current budget grant or can be met by re-appropriation or by drawing on the closing balance.(2)The closing balance shall not be reduced below twenty-five thousand rupees without the previous sanction of the State Government.(3)The following items shall be excepted from the provisions of sub-sections (1) and (2), namely :-(a)repayments of moneys belonging to contractors or other persons and held in deposit, and of moneys collected by, or credited to, the Board by mistake;(b)payments due under a decree or order of a Court passed against the Board or against the Chairman ex-officio, or under an award of the Tribunal;(c)sums payable under a compromise of any suit or other legal proceeding or claim effected under section 161;(d)sums payable under this Act by way of compensation; and(e)payments required to meet some pressing emergency.(4)Whenever any sum exceeding five thousand rupees is expended under clause (e) of sub-section (3), the Chairman shall forthwith report the circumstances to the State Government, and shall at the same time explain how the Board propose to cover the expenditure.Banking and investments
