- 6 - - 7 -Ex-185/2022 Ex-185/2022
(2) In particular and without prejudice to generality of the foregoing power, such regulations may provide for all or any of the matters, namely:-
(a) laying down the procedure to be observed for conduct of its meeting;
(b) the constitution, power and duties of committee or subcommittees and such other body the Board may like to set up from time to time;
(c) the creation of post and appointment of employees of the Board and the condition of their services;
(d) the rates at which the Board shall pay allowance or honorarium to persons referred to in section 16; and other bodies or person the Board may like to set up or assign work or both in furtherance of this Act:
Provided that the regulations made by the Board or any amendment thereto shall not take effect until such regulation or amendment receive the approval of the Government.
CHAPTER VI FINANCE AND AUDIT
(1) The Chairman shall place before the annual meeting of the Board, held in the year following the year in which it is established and before annual meeting thereafter, report on the working of the Board during the preceding financial year together with a budget estimate showing the anticipated income and expenditure of the Board during the financial year in which annual meeting is held.
(2) The budget estimate shall, after approval of the Board, be forwarded to the Government within such time as may be prescribed.
(3) The Government shall either accord its approval of the Budget estimate or return it to the Board with comments and suggestions, if any for resubmission.
The Government may, after considering the budget estimates of the Board and such other reports as it may call for, make such annual and periodical grants to it as may think fit.
(1) The Board shall constitute funds as under:-
(a) Reserve fund, named Mizo Language Development Board Reserve Fund.
(b) Grant in Aid (GIA) received from the Government.
(c) Operational fund named Mizo Language Development Board Operational Fund.
(2) Interest occurring on all money held in the funds under sub-section
(1) shall be transferred to the operational fund annually and shall be considered as annual income of the Board and taken into account in the preparation of the Board’s budget.