Amendment status not verified — confirm the current text below against the official source.
Power to make rules. shall have effect notwithstanding, anything inconsistent therewith contained in any other law for the time being in force or any custom? or usage or any instrument having effect by virtue of any such law. No suit or other proceedings shall lic against the Government or the Competent Authority or an officer or employee of the Government for anything, which is in good faith done or intended to be done under this Act. The Government may by notification in official Gazette, direct that powers exercisable by it under the Act may also be exercised by such officer as may be mentioned therein subject to such conditions if any, as may be specified therein, (1) The Government may by Notification in the official Gazette make rules for carrying out all or any of the purposes of this Act, In particular and without prejudice to the generality of the following power, such rules may provide for all or any of the following matters, namely a) all matters expressly required or allowed by this Act to be prescribed; b) the procedure for attachment of property on default of return of deposit and terms and conditions, if any, required for the purpose; ¢) the procedure for assessment of a ts and deposit 23 liabilities by the Competent Authority, 4) the procedure for reporting to the Designated Court by the Competent Authority; ¢) the manner in which the liabilities accruing to a financial establishment or person cmanating out of the proceedings before a Designated Court is to be discharged out of the attached propertics and assets in respect of such financial establishments oF persons; f) the procedure for filing appeals by the Competent Authority if aggrieved by an order of the Designated Courts the maintenance of registers and books of accounts by the we financial establishments covered under this Act, the safe custody of books, papers and documents in the office of the Competent Authority and ‘also for destruction of such books, papers and documents no longer required; h) the auditing of the Balance Sheets and Profit and Loss Accounts.