Power to make regulations

(1) The Board may with the previous sanction of the Government, by notification make regulation not inconsistent with this Act and the rules made there under, for enabling it to perform its functions under this Act. (2) In particular 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 terms and conditions of appointment and servants of the Board other than the secretary including the payment of travelling and daily allowances in respect to journeys undertaken by such officers and servants for the purposes of this Act: (b) the time and place of meetings of the Board, the procedure to be followed in regard to transaction of business at such meetings and quorum necessary for the transaction of such business at a meeting; (c) the delegation of powers and duties to the standing finance committee, secretary or any employee of the Board; (d) the maintenance of minutes of meetings of the Board and the transmission of copies of there to the Government. (e) the persons by whom and the manner in which payments deposits and investments may be made on behalf of the Board. (f) the custody of money required for the current expenditure of the board and investment of money not so required; (h) the maintenance of accounts (3) The Government may, by notification, rescind regulation made under this section and there upon, the regulation shall cease to have effect.