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Section 46 – The State Agricultural Credit Corporations Act,1968

The State Agricultural Credit Corporations Act,1968

Section 46. Power of the Central Government to make rules

(1) The Central 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 for all or any of the following matters, namely;-

(a) Functions which shall be discharged by the Executive Committee

(b) Rules of procedure with regard to the transaction of business at a meeting of the Board.

(c) Rules of procedure with regard to the transaction of business at a meeting of any committee constituted by the Board.

(d) The procedure to be followed by the appropriate Government or the authority specified by the appropriate Government for issuing the certificate under section 28.

(e) The manner in which the general meeting shall be convened, the quorum therefore, the procedure to be followed thereat and the manner in which voting rights may be exercised.

(f) Form and manner in which accounts shall be maintained the balance-sheet and profit and loss account shall be prepared.

(g) Form in which statement of assets and liabilities shall be furnished;

(h) Any other matter which is required to be, or may be prescribed;

(3) Every rule made under this section shall be laid as soon as may be after it is made, before each House of Parliament while it is in session for a total period of thirty days, which may be comprised in one session or in two successive sessions, and if before the expiry of the session in which it is so laid or the session immediately following, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.

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The State Agricultural Credit Corporations Act,1968

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