(1) The Central Government may, by notification, make rules to carry 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 manner of appointment of the Managing Director, Secretary and Executive Director and terms and conditions of his services;
(b) the terms and conditions of service of the Managing Director, Secretary and the Executive Director under sub-section (1) of section 16, sub-section (1) of section 17 and sub-section (1) of section 18;
(c) the form and manner in which the books of account of the Institute shall be maintained under sub-section (1) of section 23; and
(d) any other matter which is required to be, or may be, prescribed.
(3) Every rule made under this section 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.