Power to make regulations

(1) The Board may, from time to time, with the previous sanction of the State Government, make regulations not inconsistent with this Act and the rules made thereunder for the purpose of giving effect to the provisions of this Act. (2) In particular and without prejudice to the generality of the foregoing power, such regulations may provide for- (a) the time and places of meetings of the Board and the procedure to be followed in relation to such meetings including the quorum necessary for the transaction of business; (b) the conditions which the Corporation may impose in granting loans or entering into other arrangements; (c) the rate of interest on loans; (d) duties which the Executive Director shall perform; (e) the duties, conduct, salary, allowances and conditions of service of officers and other employees of the Corporation; (f) the delegation of powers and functions to the officers and employees of the Corporation; (g) the establishment and maintenance of provident and other benefit funds for the officers and employees of the Corporation; (h) generally, the efficient conduct of the affairs of the Corporation.