(1) The Central Government may, by notification, make rules for carrying out the provisions of this Act.
(2) In Particular and with prejudice to the generally of the foregoing power such rules may provide the manner in which the monies I any provident fund or other fund under section 11 shall be delta with.
(3) Every rule made by the Central Government under this Act shall be laid, as soon as may be after it is made, 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 session aforesaid, both Houses agree in making any modification in the rule or both House agree that the rule should not be made, the rule shall thereafter have effect only in such modification 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.