469. Power of Central Government to make rules
(1) The Central Government may, by notification, make rules for carrying out the
provisions of this Act.
(2) Without prejudice to the generality of the provisions of sub-section (1), the Central
Government may make rules for all or any of the matters which by this Act are required to be,
or may be, prescribed or in respect of which provision is to be or may be made by rules.
(3) Any rule made under sub-section (1) may provide that a contravention thereof
shall be punishable with fine which may extend to five thousand rupees and where the
contravention is a continuing one, with a further fine which may extend to five hundred
rupees for every day after the first during which such contravention continues.
(4) Every rule made under this section and every regulation made by Securities and
Exchange Board under 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 rule or regulation or both Houses agree that
the rule or regulation should not be made, the rule or regulation 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 or regulation.