Lawgist11Power to make rules
(1) The Central Government may, by notification, make rules for carrying out the provisions of this Act.
(2) Every rule made 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.
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- 1 Short title and commencement
- 2 Definitions
- 3 Specified bank notes to cease to be liability of Reserve Bank or Central Government
- 4 Exchange of specified bank notes
- 5 Prohibition on holding transferring or receiving specified bank notes
- 6 Penalty for contravention of section 4
- 7 Penalty for contravention of section 5
- 8 Offences by companies
- 9 Special provisions relating to offences
- 10 Protection of action taken in good faith
- 11 Power to make rules
- 12 Power to remove difficulties
- 13 Repeal and savings
