(1) The Board may, with previous sanction of the State Government by notification in the Official Gazette make regulations not inconsistent with the Act and the rules made there under for the purpose of giving effect to the provisions of this Act.
(2) Without prejudice to the generally of the foregoing provisions the regulations may provide for -
(a) the procedure and manner for holding meetings and conduct of business;
(b) fixing the numbers of members required to form a quorum at a meeting;
(c) the power and duties of the Chairperson, the Vice-Chairperson and the Chief Executive Officer;
(d) the operation of the funds and bank accounts;
(e) the power for incurring expenditure by Officers of the Board;
(f) the manner of discharging loans and the general terms and conditions thereof;
(g) recovery of loans;
(h) the registers and records to be maintained by the Board;
(i) the board criteria for implementing the provisions of the Act in the field; and
(j) any other matter which may by regulations be prescribed.