202Procedure for making contracts.

With respect to the making of contracts, the following provisions shall have effect, namely:--
(a) every such contract shall be made on behalf of ¹[²[the Corporation]] by the Commissioner;
(b) no such contract, for any purpose which in accordance with any provision of this Act the Commissioner may not carry out without the approval or sanction of ¹[²[the Corporation]] or some other municipal authority shall be made by him until and unless such approval or sanction has been duly obtained;
³ [(c) no contract which will involve an expenditure exceeding ten lakh rupees or such higher amount as ⁴[the Central ⁵[Government]] may from time to time, fix, shall be made by the Commissioner unless the same is previously approved by the Standing Committee; and
(d) every contract made by the Commissioner involving an expenditure exceeding one lakh rupees but not exceeding ten lakh rupees or such higher amount as may be fixed under clause (c) shall be reported by him, within one month after the same has been made to the Standing Committee.]
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