Section 42 in Bihar State Universities (Patna, University of Bihar, Bhagalpur and Ranchi) Act, 1960
42. Restrictions on expenditure not included in the budget.
(1)No sum shall be expended by or on behalf of the University 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 such amount as may be prescribed by the Statutes.
