Procedure for making Statutes.

(1) The first Statutes of the Institute shall be made by the Government by notification and shall continue to be in force until amended or superseded by Statutes made by the Board in accordance with the provisions of this section. (2) The Board may, from time to time, make new or additional Statutes or may amend the Statutes made under sub-section (1 ) : (3) Every new Statute or addition to the Statutes or any amendment thereof shall require the approval of the Chancellor, who may assent thereto or withhold his assent or remit it to the Board for reconsideration in the light of the observations, if any, made by him. (4) A new Statute or a Statute amending an existing Statute shall not be valid unless it has received the assent of the Chancellor.