(1) The Board may, subject to such conditions as may be prescribed in this behalf, borrow money in the open market or otherwise with a view to providing itself with adequate resources.
(2) All moneys borrowed under sub-section (1) may be guaranteed by the State Govenment as to the repayment of principal and the payment of interest at such rates and on such conditions as the State Government may determine at the time the moneys are borrowed.
(3) The Board may also accept deposits from institutions or general public for the purpose of providing itself with a adequate resources.
27. Subject to the provisions of this Act, the Fund of the Board shall be applied only towards the payment of charges and expenses incidental to the matters specified in this Act and for any other purpose for which by or under this Act, powers are conferred or duties are imposed, upon the Board.
28. No moneys shall be withdrawn by the Board from a Bank except upon a cheque or letter or credit signed by two officers of the Board duly authorised by it in this behalf.
29. The Board shall frame before such date and in such manner as may be prescribed, the budget estimates of the income and expenditure of the Board for the next financial year and submit them to the State Government three months before the commencement of the financial year. The State Government may pass such orders with reference to the budget estimates of the Board as it thinks fit, and communicate the same to the Board, within a period of three months from the date they are submitted to it and the Board shall give effect to such orders.
30. The Board shall forward the annual accounts of receipts and expenditure to the State Government for audit. The State Government shall cause the accounts to be audited, and the Board shall pay such charges for the audit as the State Government may determine.
II of 1934.
Bom. XXIX of 1950.
II of 1882.
Board to pay costs from the Fund on account of salary, pension, etc.
Grants to Board.
Power of Board to borrow.
Application of Fund.
How the fund shall be drawn against.
Preparation of annual budget estimates.
Annual accounts and audit.
14 Gujarat Secondary and Higher Secondary Education Act, 1972 [ 1973 : Guj. 18
CHAPTER IV Registration