Amendment status not verified — confirm the current text below against the official source.
where the sum writlpn off in favour of any one person exceeds' fivehundred ..rupees. or ",:;';. ' . where the 'aggregate of the sums written off in a financial year exceeds five thousand rupees, the previous. sanction of the Administrator shall first be obtained. . (1) The Administrator may, byn~~ification in . ithe Official Gazette. make rules to giv~ effect to ..:." the provisions of this Act ..; .. (2) In particular and without prejudice to the generafity of the foregoing power, such rules may providefor an or any oJthe following matters, namely:- (a) the place at which the office of the Board shall be located; . (b) the terms of office of, and the manner of filling casual vacancies among the members and the terms and conditions of the service of the chairman, the vice-chairman, the Secretary and the other members, including the pay and allowances to be drawn by.them: (c) the disqualifications for membership of the Board and the procedure to be followed for removing a member who is or who becomes subject to any disqualifications: (d) the powers and duties to be exercised and discnarqedby the chairman and the vice-chairman; • (e) the procedure to be followed in the performance of functions by members; (f) the powers and duties to be exercised and discharged by the Secretary. the Financial Advisor and the Executive Officer of the Board. (g) the conditions subject to which and the mode in which. contracts may be entered into by or on behalf of the Board. . - (h) the constitution of the ..... Standing Finance Committee and other Standing Committees (i) the delle by which and the form ill which the I'..,. ii) 17 Power to make 36. regulations. budgets and the supplementary budget shall b~ prepared and submitted each year under sections- 25 and 26 , 0) the procedure to be followed for placing the' Board in possession of funds; (k) the procedure to be totlowed and the conditions to be observed in borrowing moneys and in granting loans; (I) the form and the manner in which the reports. returns or statements shall be submitted under sections 27 and 28 : (rn) the form and the manner in which the accounts and records of the Board shall be maintained and the annual statement of account shall be prepared under section 29 and (n) any other matter which has to be or may be, prescribed. (3)Every rule made under this Act shall be laid as soon as may be after it is made, before the Assembly while it is in session for a total period 01~ not less than fourteen days which may be cornpriser' in one session or in two 01 more successive sessions and if before the expiry of the session. in which it is·· so laid orthe sessions aforesaid. the Assembly makes any modification in the rule or decides that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect as the case may be ; so. however, that any such modification or annulment shall be without prejudice to the validity or anything previously done under thai rule. (1) The Board may with the previous sanctior of the Administrator, by notitication in the Officia Gazette, make regulations not inconsistent with thi. Act and the rules made tr-ereunder. for enabling it tr perform its.functions und. .r this Act. (2) In particular and without prejudice to th'f ~ generality of the toreqoi: ,g power, such requlation: may provide for all or arv of the following matter 18 - - ~ riamety i-« (a) The terms and conditions of appointment and service and the scales of pay of officers and other employees of the Board other than the Secretary, including the payment of travelling and daily allowances in respect of journey under-taken by such officers and employees for the purposes of tbis Act; (b) The time and place of meeting of the Board. the procedure to be followed in regard to the transaction of business at such meetings and the quorum necessary for such meeting; (c) The functions of Standing Committees and the procedure to be followed by the Standing Committees in the performance of their functions ; (d) The delegation of powers and duties to the chairman, vice-chairman, any Standing Committee. the Secretary or any other officer or employee of the Board: (e) The maintenance of minutes of meetings of the Board: (f) The persons by whom and the manner-in which payments, deposits and investments may be made on behalf of the Board: (g) The custody of moneys required for the current expenditure of the Board and the investment of moneys not so required. and (h) The maintenance of accounts. (3) The administrator may. by notification in the Or icial Gazette. rescind or modify any regulation made under !his section and thereupon, the regulation shall: cease to have effect or be modified accoroinqly