(1) The [Government of the Union territory of Jammu and Kashmir] may, by notification in the [Official Gazette], make rules to carry out generally the purposes of this Act, and such rules may provide that a breach thereof shall, on conviction, be punished with fine not exceeding five thousand rupees.
(2) Without prejudice to the generality of the powers conferred by subsection (1), such rules may regulate, or provide for, all or any of the following matters, namely: ––
(a) the supply, sale and use of stamps and stamped papers;
(b) the persons by whom alone such sale is to be conducted;
(c) the duties and remuneration of such persons;
(d) the manner of ascertaining the market value of immovable property and preparation of market vale guidelines of immovable property;
(e) the procedure for appeal or revision proceedings ; and
(f) the procedure for use of franking machine or any other machine or electronic stamping for payment of stamp duty.
(3) All rules made under this Act shall be made subject to the condition of previous publication in the Official Gazette :
Provided that, if the [Government of the Union territory of Jammu and Kashmir] is satisfied that circumstances exist which render it necessary to take immediate action, it may, for reasons to be recorded in writing, dispense with the condition of previous publication of any rule to be made under this section.]