(1) The State Government may, by notification in the Official Gazette and subject to the condition of previous publication from time to time, make rules for carrying into effect 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 the State Legislature while it is in session for a total period of thirty days which may be comprised in one 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, from the date of publication of a notification in the Official Gazette of such decision, 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 or omitted to be done under that rule.
(2) Every rule made under this section shall be laid, as soon as may be, after it is made, before each House of the State Legislature while it is in session for a total period of thirty days which may be comprised in one 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, from the date of publication of a notification in the Official Gazette of such decision, 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 or omitted to be done under that rule.
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Application for adjustment of debts.Section 4 · Every creditor and debtor to file a true and correct statement before Court.Section 5 · Assignees from non-debtor not entitled to benefit of this Act.Section 6 · Application for recording settlement.Section 7 · Settlement during pendency of proceedings before Court.Section 8 · Certain settlements to be void.India Code, Government of India. Text fetched 16 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.