(1) The Corporation may, with the previous approval of the Government, make regulations consistent with this Act and the rules made there under to carry out, the purposes of this Act, and without prejudice to the generality of this power, such regulations may provide for:—
(a) under section 7(1), the time and place of meetings of the Corporation and the procedure to be followed in regard to the transaction of business at such meetings;
(b) under section 12, the conditions of appointment and service and the scales of pay of officers and servants of the Corporation, other than the Managing Director and the Chief Accounts Officer;
(c) under section 18(3), the officers of the Corporation who may operate it’s accounts;
(d) any other matter which has to be, or may be, provided by regulations.
(2) All regulations made under this section shall be published in the Official Gazette and shall be laid for not less than fourteen days before the Legislative Assembly as soon as possible after they are made, and shall be subject to such modifications as the Legislative Assembly may make during the session in which they are so laid, or the session immediately following.
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