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Section 52 – The Small Industries Development Bank of India Act,1989

The Small Industries Development Bank of India Act,1989

Section 52. Power to make regulations

(1) The Board may, with the previous approval of the Development Bank, by notification make regulations not inconsistent with the provisions of this Act to provide for all matters for with 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 regulation may provide for-

(a) The times and places of the meetings of the Board and the procedure to be followed at such meetings under sub-section (1) of section 11 including quorum necessary for the transaction of business;

(b) The form and manner in which the balance-sheets and the account of the Small Industries Development Assistance Fund under sub-section (1) of section 25 and the Small Industries Bank under sub-section (1) of section 28 shall be prepared;

(c) The manner in which nominations may be made in terms of sub-section (1) of section 46;

(d) Generally the efficient conduct of the affairs of the Small Industries Bank;

(e) Any other matter which is to be, or may be, prescribed.

(3) Every regulation made this Act 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 or more successive sessions and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation or both Houses agree that the regulation should not be made, the regulation shall thereafter have effect only in such modified form or e 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 regulation.

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The Small Industries Development Bank of India Act,1989

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