(1)- The Nigam and a Jal Sansthan may, with the previous approval of the State Government, make regulations, not inconsistent with this Act and the rules made thereunder, for the administration of the affairs of the Nigam or a Jal Sansthan.
(2)- In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely -
(a)- the summoning and holding of meetings of the Nigam or a Jal Sansthan, the time and place where such meetings are to be held, the conduct of business at such meetings and the number of persons necessary to form quorum thereat;
(b)- the powers and duties of the employees of the Nigam or a Jal Sansthan;
(c)- the salaries and allowances and other conditions of service of employees of the Nigam, or a Jal Sansthan other than employees employed on contract basis;
(d)- the management of the property of the Nigam or Jal Sansthan;
(e)- the execution of contracts and assurances of property on behalf of the Nigam or Jal Sansthan;
(f)- the limits up to which the Managing Director or the General Manager shall be competent to incur recurring or non-recurring expenditure in any financial year, without such expenditure being included in the statement under sub-section (1) of Section 50;
(g)- the maintenance of accounts and the preparation of balance-sheet by the Nigam or Jal Sansthan;
(h)- the procedure for carrying out the functions of the Nigam or a Jal Sansthan under this Act;
(i)- any other matter for which provision is to be or may be made in regulations.
(3)- Until any regulations are made by the Nigam or a Jal Sansthan, as the case may be, under sub-section (1), any regulations which may be so made by it may be made by the State Government, and any regulations so made may be altered or rescinded by the Nigam or a Jal Sansthan in exercise of its power under sub-section (1).