Power to make rules.

(1) The Government may by Notification in the official Gazette make rules for carrying out all or any of the purposes of this Act. In particular and without prejudice to the generality of the following power, such rules may provide for all or any of the following matters, namely: (a) all matters expressly required or allowed by this Act to be prescribed; (b) the procedure for attachment of property on default of return of deposit and terms and conditions, if any, required for the purpose; (c) the procedure for assessment of assets and liabilities by the Competent Authority; (d) the procedure for reporting to the Designated Court by the Competent Authority; (e) the manner in which the liabilities accruing to a financial establishment or person emanating out of the proceedings before a Designated Court is to be discharged out of the attached properties and assets in respect of such financial establishments or persons; (f) the procedure for filing appeals by the Competent Authority if aggrieved by an order of the Designated Courts; (g) the maintenance of registers and books of accounts by the financial establishments covered under this Act, the safe custody of books, papers and documents in the office of the Competent Authority and also for destruction of such books, papers and documents no longer required; (h) the auditing of the Balance Sheets and Profit and Loss Accounts. (2) Every rule made by the Government under this Act shall be laid as soon as may be after it is made before the House of the Legislative Assembly while it is in session for a total period of thirty days which may be comprised in one session or in two or more sessions, and if, before the expiry of the session immediately following, the session or the sessions aforesaid, the Legislative Assembly agrees in making any modification in the rule or the Legislative Assembly agrees 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. 21. (1) The Government may, by notification, empower any officer to conduct investigation of offences under this Act. (2) The officer empowered under sub-section (1) shall have the powers of an officer-in-charge of a police station under the Code of Criminal Procedure, 1973.