(1) The committee shall prepare annual budget estimates of the income referred to in clause (b) of sub-regulation (2) of regulation 5 and the budget estimates of expenditure for utilisation of the amount referred to in regulation 6 along with the details of the programme, studies and market research projects, seminars, symposia and workshops and submit the same two months before beginning of each financial year for approval of the Authority:
(2) The committee shall incur such expenditure on any of the purposes mentioned in clauses (a) to (c) of sub-regulation (2) of regulation 6 which has been included in the budget estimates referred to in sub-regulation (1) and sanctioned under sub-regulation (4) by the Authority.
(3) Every expenditure referred to in sub-regulation (2) shall be incurred after having passed a resolution for incurring such expenditure in the meeting of the committee.
(4) Every resolution referred to in sub-regulation (3) shall, mention the maximum amount of expenditure to be incurred and the purpose for such expenditure, and, such resolutions shall be submitted before the Authority for sanctioning of such expenditure.
(5) A copy of the summary of the programmes referred to in clause (a), studies and market research projects referred to in clause (b) and seminars, symposia and workshops referred to in clause (c), of sub-regulation (2) of regulation 6, shall be provided to the Authority within thirty days of the conclusion of the programmes, market research projects and seminars, symposia and workshops, as the case may be.