Power to make rules

General197940 sections

Statutory text

(1) The Government may, by notification, make rules to carry out all or any of the purposes of this Act.
(2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely,—
- (a) the conditions of the appointment of the Chairman, the Vice-Chairman and other directors and fees and allowances payable to them;
- (b) the form in which certificate shall be issued by the managing director;
- (c) the form and manner in which accounts shall be maintained, and the balance sheet and profit and loss account shall be prepared;
- (d) any other matter which is required to be or may be prescribed.
(3) Every rule made under this section shall be laid as soon as may be after it is made, before the Legislative Assembly while it is in session for a total period of ten days, which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session in which it is so laid or the successive sessions aforesaid the Assembly makes any modification in the rule or decides 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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