Section 53 in The Bonded Labour System (Abolition) Ordinance, 1975
53. Power of Board to make regulations.
(1)The Board may, with the previous approval of the State Government, make regulations not inconsistent with this Act providing for all matters for which no rules have been framed under this Act and for which provision is necessary or expedient for the purpose of giving effect to the provisions of this Act.(2)In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for-(a)the manner in which and conditions subject to which the shares of the corporation may be transferred and generally all matters relating to rights and duties of the share holders;(b)the fees and allowances that may be paid to the directors;(c)the times and places of the meetings of the Board or of any committee constituted under this Act, and the procedure to be followed at such meetings including the quorum necessary for transaction of business;(d)the number of directors constituting the executive committee and the functions which such committee shall discharge;(e)the functions which any other committee may discharge under this Act;(f)the fees and allowances that may be paid to the members of a committee other than directors;(g)delegation of powers and functions of the Board to the committees, or to the chairman, the managing director and other officers of the corporation;(h)the manner and terms of issue and redemption of bonds and debentures and other securities by the corporation;(i)the rate of interest at which, and conditions subject to which, the corporation may grant special loans;(j)the rates at which a rebate may be allowed for punctual payments by land holders, and the rate at which additional interest may be charged from them in respect of amounts in default;(k)the manner and conditions subject to which the corporation may borrow moneys;(l)the form and manner in which the balance sheet and accounts of the corporation shall be prepared and maintained;(m)the forms of returns, statements and estimates required under this Act;(n)duties and conduct, salaries, allowances and conditions of service of officers and other employees other than the Financial Controller;(o)establishment and management of provident fund or other benefit funds for officers and other employees of the corporation;(p)determination of local offices of the corporation for the purpose of payment of installments by land holders under this Act; and(q)generally for the efficient conduct of the affairs of the corporation.(3)All regulations made under this section shall be published in the official Gazette and shall have effect from the date of such publication or from such earlier or later date as may be specified in the regulations.(4)All regulations made under this section shall be laid before the State Legislature.
