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(1) Whenever
the Central Government considers it expedient so to do, it may, by order in writing, direct any recognised
association to make any rules or to amend any rules made by the recognised association within such
period as it may specify in this behalf.
(2) If any recognised association, against whom an order is issued by the Central Government under
sub-section (1), fails or neglects to comply with such order within the specified period, the Central
Government may make the rules or amend the rules made by the recognised association, as the case may
be, either in the form specified in the order or with such modification thereof as the Central Government
may think fit.
1[(3) Where, in pursuance of sub-section (2), any rules have been made or amended, the rules so made
or amended shall be published in the Gazette of India, and shall, thereupon, have effect notwithstanding
anything to the contrary contained in the Companies Act, 1956, or any other law for the time being in
force, as if they had been made or amended by the recognised association concerned.]
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1. Subs. by s. 10, ibid., for sub-section (3) (w.e.f. 28-12-1960).