(1) Subject to the provisions of this Act and the rules made thereunder, the Authority may make regulations for all or any of the matters required by this Act to be provided by regulations and generally for all other matters for which provision is, in the opinion of the Authority, necessary for the exercise of its powers and the discharge of its functions under this Act or the rules made thereunder.
(2) No regulation made by the Authority under sub-section (1) shall take effect unless it is published in the Official Gazette.
(3) The State Government may, at any time by notification in the Official Gazette, repeal wholly or in part or modify any regulation made by the Authority provided that, before taking any action under this sub-section, the State Government shall communicate to the Authority the grounds on which it proposes to do so, fix a reasonable period for the Authority to show cause against the proposal and consider the explanation and objections, if any, of the Authority.
(4) The repeal or modification of any regulation shall take effect from the date of publication of the notification in the Official Gazette, if no date is therein specified, and shall not affect anything done or omitted or suffered before such date.