All properties, funds and other assets of the Board shall be held and applied by it subject to the provisions, and for the purposes, of this Act.
25. Budget- (1) The Board shall by such date in each year as may be prescribed, prepare and submit to the 5[Government of Himachal Pradesh] for approval two separate budgets in the prescribed form for the next financial year, to be called the khadi budget and the village industries budget, showing the estimated receipts and expenditure in respect of khadi and village industries respectively during that financial year and the Board shall forward copies of the budget to the Commission for information and remarks, if any.
(2) Subject to the provisions of sub-sections (3) and (4), no sum shall be expended by or on behalf of the Board unless such expenditure is covered
1. Substituted for the word “Administrator” vide A.O., 1973.
2. Subs for the word “Central Government” by A.O., 1973.
3. Substituted for the word “Administrator” vide A.O., 1973.
4. Substituted for the words “Union territory” vide A.O., 1973.
5. Substituted for the word “Administrator” vide A.O., 1973.
THE HIMACHAL PRADESH KHADI AND VILLAGE INDUSTRIES BOARD ACT, 1966 11 by a specific provision in the budget approved by the 1[Government of Himachal Pradesh].
(3) The Board may, within the respective limits of the khadi budget and the village industries budget, sanction any re-appropriation from one head of expenditure to another or from a provision made for one scheme to that in respect of another but, subject to the provisions of sub-section (3) of section 22, in no case shall a re-appropriation of funds be made from the khadi budget to the village industries budget or from the village industries budget to the khadi budget :
Provided that no re-appropriation from the head "Loan" to any other head of expenditure and vice versa in either budget shall be sanctioned by the Board except with the previous approval of the 2[Government of Himachal Pradesh.
(4) The Board may, within such limits and subject to such conditions as may be prescribed incur expenditure in excess of the limit provided in the budget approved by the 3[Government of Himachal Pradesh] under any head of expenditure or in connection with any particular scheme so long as the aggregate amount in either budget approved by the 4[Government of Himachal Pradesh] is not exceeded.