(1) The Government shall, by | notification in the Gazette, constitute a fund called the Guarantee Redemption Fund.
(2) The Guarantee commission charged under section 5 shall form the corpus of the Guarantee Redemption Fund and it shall be remitted in the Public Accounts of the State. .
(3) The administration of Guarantee Redemption Fund shall be-in such manner as may be prescribed.
7. Power of Government to make rules—{1) The Government may, by notification in the gazette, make rules for the purpose of carrying into effect the provisions of this Act.
(2) Every rule made under this Act shall be laid, as soon as may be after it is made, before the Legislative Assembly while it is in session for a total _ period of fourteen days, which may be comprised in one session or in two successive sessions, and if, before the expiry of the session in which it is so laid or the session immediately following, the Legislative Assembly makes any modification in the rule, or decides that the rule should not be made, the mule shall thereafter have effect only in such modified form or be of no effect, as the case may be; sa however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.
PRINTED AND PUBLISHED BY THE SUPERINTENDENT OF GOVERNMENT PRESSES AT THE GOVERNMENT CENTRAL PRESS, THIRUVANANTHAPURAM, 2003