Section 55
Power of the Board to make regulations.—(1) The Board may, with the previous approval of 2*** the Central Government, by notification, make regulations not inconsistent with this Act to provide for all matters for which provision is necessary or expedient for the purpose of giving effect to the provisions of this Act.
55. Power of the Board to make regulations.—(1) The Board may, with the previous approval of 2*** the Central Government, by notification, make regulations not inconsistent with this Act to provide for all matters for which 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 regulations may provide for all or any of the following matters, namely:—
(a) the fees and allowances that may be paid to the directors for attending the meetings of the Board or its committees under sub -section (5) of section 7;