(I) The amount of grant admissible to a recognised library under these rules in classes "A"." B", "C" and --_.. 11 " D" may, generally, be paid in lWo instalments, lhe \lrst iIlstalment in the month of August and the final in the maDlh of february:
Provid..::d that the final instalment shall be paid only after the receipt of Annual Report and the audited statement of Income and Expenditure and Balance Sheet for the previous year, cert-ified by the Chartered Accountant:
Provided fUrlher that, where such a library is managed by a local body, the final instalment shall be paid only after the receipt of Annual Report and the audited statement of Income and Expenditure and Balance Sheet for the previous year certified by the Auditor under the Bombay Local Fund Audit Act, 1930 :
Provided also that, if in any year a lib'rary is paid grant in excess C'f the grant admissible to it for that year the excess grant paid in that year shall be adjusted towards the grant payable to the library in the following year.
(2) The libraries other than those covered by sub-rule (I) may be pdid grant in one instalment.
CHAPTER V Building alld Equipment Grants