Power to make rules and its laying before Parliament

Corporate2024155 sections12 chapters

Chapter XII INSURED CO-OPERATIVE BANK

Statutory text

(1) The Administrator may, by notification and subject to the condition of previous publication, make rules not inconsistent with the provisions of this Regulation to carry out the purposes of this Regulation.
(2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the matters enumerated in respective sections of this Regulation.
(3) Every rule made by the Administrator under this Regulation shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.

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