Section 29
Regulations
of Economic Development Board Act 1961
(1)
The Minister may, after consulting with the Board, make any regulations that the Minister may consider necessary or desirable for the proper conduct of the business of the Board including, without limiting the foregoing, regulations with regard to any of the following matters:
the convening of meetings of the Board and the procedure to be followed at the meetings, to the extent not inconsistent with the Public Sector (Governance) Act 2018;
the appointment or establishment of committees of the members of the Board, and the co-opting of persons other than members of the Board to those committees;
the provision of a common seal and the custody and use of the common seal;
the manner in which documents, cheques and instruments of any description are to be signed or executed on behalf of the Board;
the manner and terms of issue and redemption of bonds and debentures by the Board; (f)generally for the exercise of the Board’s powers under the provisions of this Act.
(2)
All regulations made under this Act must be presented to Parliament as soon as possible after publication in the Gazette.
(3)
If a resolution is passed pursuant to a motion notice of which has been given for a sitting day not later than the first available sitting day of Parliament next after the expiry of 3 months from the date when the regulations are so presented annulling the regulations or any part thereof as from a specified date, the regulations or such part thereof (as the case may be) become void as from that date but without affecting the validity of anything previously done thereunder or to the making of new regulations.