Section 45ZO
Power to make rules.
The Reserve Bank of India Act, 1934
About this Act
An Act to Constitute a Reserve Bank of India.
1[45ZO. Power to make rules.--(1) The Central Government may, by notification in the Official
Gazette, make rules for the purpose of carrying out the provisions of this Chapter.
(2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for--
(a) the procedure of functioning of the Search-cum-Selection Committee under sub-section (3) of section 45ZC;
(b) the terms and conditions of appointment, (other than the remuneration and other allowances), of Members of the Monetary Policy Committee under sub-section (2) of section 45ZD; and
(c) any other matter which is to be, or may be, prescribed by the Central Government by rules.]
(2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for--
(a) the procedure of functioning of the Search-cum-Selection Committee under sub-section (3) of section 45ZC;
(b) the terms and conditions of appointment, (other than the remuneration and other allowances), of Members of the Monetary Policy Committee under sub-section (2) of section 45ZD; and
(c) any other matter which is to be, or may be, prescribed by the Central Government by rules.]
Notes
1. Ins. by Act 28 of 2016, s. 222 (w.e.f. 27-6-2016).