7Notifications issued under section 5 and rules made under section 6 to be laid before Parliament
Every notification issued under sub- section (2) of section 5 and every rule made under section 6 shall be laid as soon as may be after it is issued or made before each House of Parliament while it is in session for a total period of thirty days, which may be comprised in one session or 2 [in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid], both Houses agree in making any modification in the notification or, as the case may be, in the rule, or both Houses agree that the notification or rule should not be issued or made, the notification or 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 of anything previously done under that notification or rule.
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1. Subs. by Act 20 of 1983, s. 2 and the Schedule, for "in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive session aforesaid" (w.e.f. 15-3-1983).
- 1 Short title, extent and commencement
- 2 Definitions
- 3 Payments to Bank
- 4 Reserve Bank to be depository for Bank
- 5 Conferment of status and certain immunities, exemptions and privileges on Bank and conferment of certain immunities, exemptions and privileges on its officers and employees
- 6 Power to make rules
- 7 Notifications issued under section 5 and rules made under section 6 to be laid before Parliament