(1)The State Government may by notification in the official Gazette make rules for carrying out the purposes of this Act.(2)In particular, and without prejudice to the generality of the foregoing power such rules may provide fat or regulate -(a)all matters expressly required or allowed by this Act to be prescribed;(b)the manner in which general and special meetings of the general body of the subscribers shall be convened and held;(c)the matters in respect of which provision shall be made in the bye-laws of a chit and the, procedure to be followed in making, registering; altering and abrogating bye-laws and the conditions to be satisfied prior to such making registration, alteration in abrogation;(d)the particulars which every chit agreement shall contain ;(e)the method of valuation of grains by the Registrar in a grain chit for the purposes of security under section 14;(f)the restriction and conditions subject to which and the manner in which, any security given by a foreman under section 14 may be changed or substituted ;(g)the procedure to be followed by the Registrar for the release of security given by the foreman under section 14 ;(h)the maintenance of registers and cooks of accounts by the foreman, the safe custody of Looks, records and documents in the Registrar's office and also for the destruction of such books, records and documents as need no longer be kept;(i)the procedure to be followed for the winding up of a chit under Chapter IX; and(j)the auditing of the balance-sheets and profits and loss accounts of' chits and the audit certificates.(3)All rules under this Act shall as soon as may be after they are made, be laid before each House of the State Legislature while it is in session, for a total period of thirty days in its one session or more than one successive sessions and shall unless some later date is appointed take effect from the date of their publication in the Gazette subject to such modifications or annulments as the two Houses of the Legislature may during the said period agree to make, so, however, that any such modification or annulment shall be without prejudice to anything previously done thereunder.
