Section 16 in Tamil Nadu Infrastructure Development Rules, 2012
16. Manner of managing the Project Preparation Fund.
(1)The Project Preparation Fund shall be a Fund of the Board;(2)The balances of the Project Preparation Fund shall be maintained in the public account or part of the Government cash balances in a separate bank account or both as may be decided by the Board.(3)The power to sanction expenditure from the Project Preparation Fund shall be delegated as follows:(a)Upto Rs. 5 lakhs - CEO;(b)From Rs. 5 lakhs upto Rs. 50 lakhs - A Sub committee of the Executive Committee comprising Principal Secretary to Government (Finance Department), the CEO and one other member to be nominated by the Executive Committee;(c)From Rs. 50 lakhs upto Rs. 5 Crores - The Executive Committee;(d)Above Rs. 5 Crores - The Board:Provided that the expenditure sanctioned by authorities other than the Board shall be reported to the Board at its next meeting;(4)The CEO of the Board shall be the drawing and disbursing officer of the Fund and shall maintain accounts in the appropriate form.
