(1) The Board may, with the previous sanction of Government, by notification, make regulations not inconsistent with this Act and the Rules made there under, for enabling it to perform its functions under this Act.
(2) In particular and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:
(a) the terms and conditions of appointment and service and the scales of pay of officers and servants of the Board other than the Secretary including the payment of travelling and daily allowances in respect of journeys undertaken by such officers and servants for the purposes of this Act;
(b) the time and place of meetings of the Board, the procedure to be followed in regard to transaction of business at such meetings and the quorum necessary for the transaction of such business at a meeting;
(c) functions of committees and the procedure to be followed by such committees in the discharge of their functions;
(d) the delegation of powers and duties to the standing finance committee, secretary or any employee of the Board;
(e) the maintenance of minutes of meetings of the Board and the transmission of copies thereof to Government and the Khadi and Village Industries Commission;
(f) the persons by whom and the manner in which payments, deposits and investments may be made on behalf of the Board;
(g) the custody of moneys required for the current expenditure of the Board and investment of moneys not so required;
(h) the maintenance of accounts.
1[“(3) Government may, by notification, modify or rescind any regulation made under that section, and thereupon, the regulation shall stand modified accordingly, or cease to have effect”].
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