(1) Notwithstanding anything contained in section 50, the first regulation shall be made by the Government and published in the Official Gazette and they shall continue to be in force until new regulations are duly made by the Board.
(2) If it shall at any time appear to the Government that, it is expedient to make any new regulations in respect of any of the matters referred to in section 50 or that any regulations referred to in sub-section (1) or made by the Board under section 50, need to be modified or repealed, either wholly or in part, the Government may, after consultation with the Board, and by notification in the Official Gazette, make such regulations to modify or repeal any such regulation, either in whole or in part. The regulations so made, modified or repealed shall take effect from the date as the Government may in such notification specify or if no such date is specified, from the date of publication of the said notification in the Official Gazette, except as respects anything done or as omitted to be done before such date.