Central Act
127
Section 127. Sanction.
In forceAll India (Central Act)
127. Sanction. (1) Every contract-- (a) for which budget provision does not exist, or (b) which involves a value or amount exceeding rupees fifty thousand shall require the sanction of the Board. (2) Every contract other than a contract such as is referred to in sub-section (1) shall be sanctioned by the Chief Executive Officer on behalf of the Board.