Powers of the Board to make bye-laws.

(1) The Board may, with the prior approval of the State Government, make byelaws for the proper performance of its functions under this Act. (2) In particular and without prejudice to the generality of the foregoing power, such bye-laws may provide for the following matters, namely :- (i) the constitution, functioning and powers of the Sectoral Sub-Committee, Project Implementation Sub-Committee under sub-section (3) of Section 21; (ii) the custody, application and operation of the Development Fund including, borrowing and investment under sub-section (3) of section 22; (iii) the duties of the Managing Director , officers and employees of the Board and their conditions of service under section 23; (iv) conduct of the meeting of the Board, the time and place at which such meetings shall be held, the procedure to be followed in the transaction of business under sub-section (7) of section 18;