(1) After considering the suggestions or objections received in pursuance of sections 39 and 40, the Board may either abandon or modify or sanction the scheme, or apply to the Government for sanction with such modifications, if any, as the Board may consider necessary if the cost of the scheme exceeds 22 [ten crore] of rupees.
(2) The Government may sanction with or without modification, or may refuse to sanction, or may return for reconsideration any housing, improvement or building scheme costing over 23 [ten crore] of rupees submitted to it under sub-section (1).
(3) If a scheme returned for reconsideration under sub-section (2) is modified by the Board, it shall be republished in accordance with section 39—
(a) in every case in which the modification affects the boundaries of the area comprised in the scheme or involves the acquisition of any land not previously proposed to be acquired; and -15-
(b) in every other case, where the modification is, in the opinion of the Board, of sufficient importance to require republication.