(1)

The board of the State [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Bank may, subject to the approval of the Trustee, make regulations not inconsistent with the provisions of this Chapter and the Rules made thereunder for the purpose of giving effect to the provisions of this Chapter.

(2)

In particular and without prejudice to the generality of the foregoing power, such Regulations may provide,—

(a) for fixing the period of debentures and rate of interest payable thereon;

(b) for calling in debentures after giving notice to debenture-holders;

(c) for the issue of new debentures in place of debentures damaged or destroyed;

(d) for converting one class of debentures into another, bearing a different rate of interest;

(e) for the inspection of the account books and proceedings of Primary [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Banks;

(f) for the submission of returns and reports by Primary [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Banks in respect of their transactions;

(g) for the periodical settlement of accounts between Primary [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Banks and the State [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Bank and for the payments of the moneys recovered by Primary [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Banks on mortgages transferred or deemed under the provisions of section 121 to have been transferred to the State [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Bank;

(h) for prescribing the form in which applications to Primary [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Banks for loans should be made and for the valuation of the property offered as security for such loans;

(i) generally for carrying out the purpose of this Chapter.