In exercise of the powers conferred by section 12 of the Act, the Board shall appoint from amongst its members, a standing : \ committee which will consistot the Vice-Chairman who will be exofficio Chairman of the Committee and four other members. The Executive Officer and the Financial Adviser and Chief Accounts Officer shall attend all the meeting of the Standing tinance' Committee but they will nave no voting powers. The Secretary of. ...
"-the Board shall also be the Secretary of the committee. , '. .
2) Function :-.~ The functions of the Standing Finance Committee shall include:- a) Scrutiny of Annual Budget estimates including Schematic and Commercial Budget for recommendation to the Board.
b) Scrutiny of the Revised Budget Estimate including Schemetic and Cr -nrnercial Revised Budgets and re-appropriation of funds
4.
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for recommendation to the Board.
c) Watching progress of expenditures on various schemes including those of the board's own centres and examining quarterly reports and Annual Reports of the Board and Annual Statements of Accounts of the Board for recommendation to the Board.
d) Scrutiny and recommendation for sanction of loans and grants of the co-operative societies, registered institutions. individuals etc. in accordance with the rules for the purpose and according to the patterns laid down by the Khadi Commission/Government.
e) Scrutiny of the cases regarding defaulting institutions/societies or individuals and with committee's recommendations to refer to the Board fi decision.
f) Subject to the provisions of Rule 22, scrutiny of the cases, of write off of losses and to forward to the Board with Committee's 'recommendations for decision.
g) Scrutiny of all cases involving financial liabilities.
h) Consideration of any urgent financial matter suggested by the Secretary, the Executive Officer and the Financial Advisor & Chief Accounts Officer.
i) The Standing Finance Committee shall function as and advisory body to the Board in all matters of Finance, accounts and audit, purchase of stores etc.
j) Any other function that may be assigned to it by the Board.
3) Procedure :- The procedure to be followed by the Standing Finance committee for the conduct of its business shall be as follows.
a) The Standing Finance Committee shall generally hold a meeting at least once in every three months.
b) The Secretary with the approval of the Chairman of the Committee shall serve a notice of every meeting to each member of the Committee and all others concerned at least 5 (five) clear days before the date for the meeting. The notice will clearly indicate the time and place of meeting: Provided that in case of meeting adjourned for want of quorum the time limit of 5 (five) days shall not apply, and 48 hours, clear notice for such adjourned meeting will be necessary. Special meeting may be invited by the Chairman of the committee with 48 hours' clear notice, c) Any member desiring to discuss an agenda at a meeting not .;;\,J '.' ~, , J ) 11 :
/' Tripura Gazette, Extraordinary Issue, October 30, 1970 A. D.
included in the notice shall send a note on SUCII agenda to the Secretary at least 3 (three) days before the date of the meeting:
Provided that urgent matters if any may be placed by the Secretary before the meeting with the permission of the Chairman of the Committee.
d) Three members including the Chairman of the Committee who w.ill.preside over the meeting shall form the quorum.
e) All matters corning before the committee shall be dicided unanimously as far as possible.
f) The minutes of each meeting shall be placed before Ihe next meeting for con-firmation and copies thereof shall be circulated to all the members by the Secretary. f g) All cases shall be submitted to. the Standing Finance Committee along with the remarks of Financial Adviser and Chief Accounts Officer and cases where standing Finance Committee . and the Financial Adviser do not agree, shall be to referred the Board.
CHAPTER -IV PROCEDURE FOR PAYMENT, DEPOSITS, INVESTMENTS AND CUSTODY OF MONEYS ON BEHALF OF THE BOARD