36Power to make rules

(1) The Central Government may, by notification in the Official Gazette, make rules for carrying out the purposes 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 term of office and other conditions of service of members;

(b) the terms and conditions of service of the Administrator and other officers of the Corporation;

(c) meetings of the Corporation and the procedure for conducting business thereat;

(d) the intervals at which, and the terms on which, the capital provided or loan advanced by the Central Government to the Corporation may be repaid, and the rate at which interest may be paid on the capital provided or loan advanced by the Central Government;

(e) the form and manner in which the budget and the annual report may be prepared;

(f) the manner in which the accounts of the Corporation may be maintained and audited;

(g) the form and manner in which returns, statistics, accounts and other information may be furnished to the Central Government;

(h) any other matter which has to be, or may be, prescribed under this Act.

¹[(3) Every rule made by the Central Government under this Act shall be laid, as soon as may be after it is 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 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 rule or both Houses agree 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 of anything previously done under that rule.]