*[40. Rules, regulations
and notifications to be laid before Parliament.- Every
rule and every regulation made and every notification issued
under this Act shall be laid, as soon as may be after it is
made or issued, 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, regulation or
notification, or both Houses agree that the rule, regulation
or notification should not be made, or issued, the rule, regulation
or notification 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, regulation or notification.]
*[Inserted by Company Secretaries (Amendment) Act, 2006,
section 31, w.e.f 8-8-2006]
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