Power of Corporation to make regulations

General198529 of 29 sections available5 chapters

Chapter V MISCELLANEOUS

Statutory text

(1) The Corporation may make regulations not inconsistent with the provisions of this Act and rules made thereunder, to provide for all matters for which provision is necessary or expedient for the purpose of giving effect to the provisions of this Act.
(2) In particulars 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 time and ace of meeting of the Corporation and the procedure to be followed in relation to such meeting including the quorum necessary fit the transaction of business;
- (b) the duties which the managing director shall perform;
- (c) the duties conduct, salary, allowance and conditions of service of officers and other employees of the Corporation;
- (d) the delegation of powers and functions to the officers and other employees of the Corporation;
- (e) the establishment and maintenance or provident and other benefit funds for the officers and employees of the Corporation;
- (f) any other matter which is, or may be, necessary for the efficient conduct of the affairs of the Corporation.

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