(4)Notwithstanding anything contained in the foregoing provisions of this section, the Central Government [may make rules providing for the exemption of] [ Inserted by Act 65 of 1960, Section 70 (w.e.f. 28.12.1960).] [any branch office from the provisions of this section to the extent specified in the rules and in making such rules the Central Government shall have regard to all or any of the following matters, namely:-(a)the arrangement made by the company for the audit of accounts of the branch office by a person otherwise qualified for appointment as branch auditor even though such person may be an officer or employee of the company;(b)the nature and quantum of activity carried on at the branch office during a period of three years immediately preceding the date on which the branch office is exempted from the provisions of this section;(c)the availability at a reasonable cost of a branch auditor for the audit of accounts of the branch office;(d)any other matter which in the opinion of the Central Government justifies the grant of exemption to the branch office from the provisions of this section.]
