Amendment status not verified — confirm the current text below against the official source.
(1) The State Government may, by notification, make rules to give effect to the provisions of this Act. (2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:— (a) the conditions and manner of appointment and election of members of the Corporation, the representation in the Corporation of the State Government, and where shares are issued to the members of the public under section 18 or section 19, the representation of such share-holders, and generally all matters relating to the constitution of the Corporation; (b) the remuneration, allowance or fees to be paid to the members of the Corporation; (c) the term of office of members of the Corporation and the manner of filling casual vacancies in the offices of such members; (d) the number of the members necessary to constitute a quorum at a meeting of the Corporation; (e) the conditions of appointment, service and scales of pay of the Managing Director, the General Manager, and the Chief Accounts Officer; (f) the manner in which the shares of the Corporation shall be allotted, transferred or redeemed; (g) the manner in which the net profits of the Corporation shall be utilised; Ben. Act III of 1913. 294 The West Bengal Backward Classes Development and Finance Corporation Act, 1995. XIX of 1995.] (Section 33.) (h) the date by which, and the form in which, the budget shall be prepared and submitted in each year and the limits and conditions under which the Corporation may incur expenditure in excess of the limit provided in the budget under section 26; (i) the form and the manner in which the accounts of the Corporation shall be maintained; (j) the time at which and the manner in which the accounts of the Corporation shall be audited; (k) the. form in which returns, statistics and reports shall be submitted under section 28; (1) any other matter which has to be or may be prescribed. 33, (1) The Corporation may, with the previous sanction of the State Regulations. Government, make regulations, not inconsistent with this Act and the rules made thereunder, for the administration of the affairs of the Corporation. (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 time and place of meetings of the Corporation and the procedure to be followed in regard to trasaction of business at such meetings; (b) the conditions of appointment and service, and the scales of pay, of officers and other employees of the Corporation other than the Managing Director, the General Manager and the Chief Accounts Officer. 295