(1) The Government may after previous publication make rules for the purpose of carrying into effect the provisions of this Act.
(2) In particular and without prejudice to the generality of the foregoing power such rules may provide for,-
(a) all matters expressly required or allowed by this Act to be prescribed ;
(b) the qualifications for appointment of, and the grant of leave of absence to, the Chairman and the Managing Director of the Board ;
(c) the conditions of service of the Chairman, the Managing Director and the non-official directors including the payment of any honorarium or sitting fees for attending the meetings of the Board and any other allowances and the manner of filling casual vacancies in the office of the non-official directors of the Board;
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(d) the functions of the Board ;
(e) the conditions of the acquisition and transfer of any property by the Board;
(f) the time-limit within which the resolutions of the local authority, for the preparation and execution of schemes by the Board will have to be passed and communicated to the Board;
(g) the time-limit within which the approval of the Government to the draft schemes prepared and forwarded by the Board, will have to be given;
(h) the manner in which and the number of instalments and the time or times at which, the cost of the schemes shall be recovered ;
(i) the manner of operation of funds by the Board ;
(j) the mutual relationship of the Board and other local authorities in any matter in which they are jointly interested;
(k) the borrowing and lending of money by the Board ;
(l) the conditions and limitations for the grant of loans and advances by the Board to the local authorities;
(m) the rights, privileges and authority of auditors appointed under this Act;
(n) the form in which the reports of the Board will have to be prepared by the Board and the form and manner and the time limit for the submission of statistics and returns by the Board to the Government;
(o) the manner in which the accounts of the Board will have to be published.
(3) All rules made under this Act shall be published in the official Gazette, and unless they are expressed to come into force on a particular day, shall come into force on the day on which they are so published.
(4) Every rule made under this section shall be laid as soon as may be, after it is made before each House of the State Legislature, 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 successive session 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 from the date on which the modification or annulment is notified by the Government in the official Gazette, 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 such rule.