Power to make regulations

Power to make regulations:

1. (1) The Corporation may, with the previous approval of the Government, make regulations not inconsistent with this Act and the rules made thereunder, for the administration of the affairs of the Corporation.
2. (2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:—
   • (a) the conditions of service and the scales of pay and allowances of officers and other employees of the Corporation other than those appointed by the Government;
   • (b) the time and place of meetings of the Board, the procedure to be followed in regard to the transaction of business at such meetings and the quorum necessary for the transaction of business at a meeting;
   • (c) the authentication of the seal of the Corporation;
   • (d) the maintenance of minutes of the meetings of the Board and the transmission of copies thereof to the Government;
   • (e) the persons by whom, and the manner in which, payments, deposits and investments may be made on behalf of the Corporation;
   • (f) the custody of moneys required for the current expenditure of the Corporation and investment of moneys not so required;
   • (g) the maintenance of accounts.