Section 7 in The International Monetary Fund and Bank Act, 1945
7. Power to make rules.
(1)[Renumbered as sub-section (1) by Act 25 of 1959, s. 5] The Central Government may, by notification in the OfficialGazette, make rules for giving effect to the provisions set out in the Schedule, and generally for carryingout the purposes of this [Act;Subs. by s. 2, ibid., for "Ordinance"].(2)[Ins. by s. 5, ibid] Every rule made under this section shall be laid, as soon as may be after it is made, beforeeach House of Parliament while it is in session for a total period of thirty days which may becomprised in one session or [in two or more successive sessions;Subs. by Act 67 of 1982, s. 4, for "in two successive sessions" (w.e.f. 15-1-1983)], and if before the expiry of 5[thesession immediately following the session or the successive sessions aforesaid], both Houses agree inmaking any modification in the rule, or both Houses agree that the rule should not be made, the ruleshall thereafter have effect only in such modified form or be of no effect, as the case may be, sohowever, that any such modification or annulment shall be without prejudice to the validity ofanything previously done under that rule; Subs. by s. 4, ibid., for certain words (w.e.f. 15-1-1983)]
