The Preference Shares (Regulation of Dividends) Act, 1960

Section 7. Power to make rules

In force · As amended up to 2026-08

7. Power 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) 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 1. Ins. by Act 10 of 1965, s. 72 (w.e.f. 1-4-1965). 2. Subs. by Act 13 of 1966, s. 52, for certain words, figures, letters and brackets (w.e.f. 1-4-1966). 3. Subs. by Act 10 of 1965, s. 72, for "this Act" (w.e.f. 1-4-1965). 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. 1[THE SCHEDULE [ See section 1(3)] Modifications of the Act in its application to the Union territory of Pondicherry 1. Sections 3 and 4 shall be omitted.

Source: India Code

How this section changed

  1. inserted by Act 10 of 1965, s. 72

    In force from 1 Apr 1965

    Footnote: 1. Ins. by Act 10 of 1965, s. 72 (w.e.f. 1-4-1965).