(1) The State Government may, by notification in the Official Gazette,
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:--
1[(a) the conditions and manner of appointment of Directors of a Corporation, the representation in the Board of the Central and State Governments, and where shares are issued to other parties under sub-section (3) of section 23 of such shareholders and generally all matters relating to the constitution of the Board;]
2[(b) remuneration, allowances or fees paid to the Directors of the Corporation or other persons associated with the Board under section 10;]
(c) the term of office of, the manner of filling casual vacancies among 3[Directors] of the Corporation;
(d) the number of 3[Directors] necessary to constitute a quorum at a meeting of the 4[Board];
(e) the conditions of appointment and service and the scales of pay of the 5[Managing Director, the Chief Accounts Officer, the Financial Adviser or, as the case may be, the Chief Accounts Officer-cum-Financial Adviser] of the Corporation;
(f) the number and term of office of, the allowances to be paid to, the procedure to be followed by, and the manner of filling casual vacancies among, members of an Advisory Council;
6[(ff) the procedure in accordance with which any stores may be declared obsolete under sub-section (2) of section 19;]
(g) the manner in which the shares of the Corporation shall be allotted, transferred or redeemed;
(h) the manner in which the net profits of the Corporation shall be utilised;
(i) the date by which, and the form in which, the budget shall be prepared and submitted in each year under sub-section (1) of section 32;
7[(j) the form in which the annual statement of accounts shall be prepared;]
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(l) the form in which the returns, statistics or reports shall be submitted under section 35;
(m) the procedure to be followed by an arbitral Tribunal under section 40;
9[(mm) the service of notices and orders under this Act;]
(n) any other matter which has to be, or may be, prescribed.
(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:--
1[(a) the conditions and manner of appointment of Directors of a Corporation, the representation in the Board of the Central and State Governments, and where shares are issued to other parties under sub-section (3) of section 23 of such shareholders and generally all matters relating to the constitution of the Board;]
2[(b) remuneration, allowances or fees paid to the Directors of the Corporation or other persons associated with the Board under section 10;]
(c) the term of office of, the manner of filling casual vacancies among 3[Directors] of the Corporation;
(d) the number of 3[Directors] necessary to constitute a quorum at a meeting of the 4[Board];
(e) the conditions of appointment and service and the scales of pay of the 5[Managing Director, the Chief Accounts Officer, the Financial Adviser or, as the case may be, the Chief Accounts Officer-cum-Financial Adviser] of the Corporation;
(f) the number and term of office of, the allowances to be paid to, the procedure to be followed by, and the manner of filling casual vacancies among, members of an Advisory Council;
6[(ff) the procedure in accordance with which any stores may be declared obsolete under sub-section (2) of section 19;]
(g) the manner in which the shares of the Corporation shall be allotted, transferred or redeemed;
(h) the manner in which the net profits of the Corporation shall be utilised;
(i) the date by which, and the form in which, the budget shall be prepared and submitted in each year under sub-section (1) of section 32;
7[(j) the form in which the annual statement of accounts shall be prepared;]
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(l) the form in which the returns, statistics or reports shall be submitted under section 35;
(m) the procedure to be followed by an arbitral Tribunal under section 40;
9[(mm) the service of notices and orders under this Act;]
(n) any other matter which has to be, or may be, prescribed.
1. Subs. by s. 16 and the Schedule, ibid., for clause (a) (w.e.f. 13-11-1982).
2. Subs. by s. 16 and the Schedule, ibid., for clause (b) (w.e.f. 13-11-1982).
3. Subs. by s. 16 and the Schedule, ibid., for "members" (w.e.f. 13-11-1982).
4. Subs. by s. 16 and the Schedule, ibid., for "Corporation" (w.e.f. 13-11-1982).
5. Subs. by s. 16 and the Schedule, ibid., for "Chief Executive Officer or General Manager and the Chief Accounts Officer" (w.e.f. 13-11-1982).
5. Ins. by s. 16 and the Schedule, ibid. (w.e.f. 13-11-1982).
7. Subs. by Act 28 of 1959, s. 12, for clause (j) (w.e.f. 1-9-1959).
8. Omitted by s. 12, ibid. (w.e.f. 1-9-1959).
9. Ins. by Act 71 of 1971, s. 7(a) and the First Schedule (w.e.f. 3-9-1971).