: (1) To achieve the objectives mentioned in the memorandum of association and to conduct the company's operations in an orderly manner, regulations should be made.
(2) The following things should be mentioned in the regulation:-
(a) The method of convening the general meeting of the company, matters related to the notice to be given for the meeting,
(b) Procedure of General Meeting,
(c) number of directors, alternate directors if any and tenure of directors, (d) Record of the decisions of the general meeting and the board of directors and provisions regarding their copy and inspection,
(e) Minimum number of shares, if a person is required to hold shares to be appointed director of the company,
(f) Qualification and number of independent directors in case of public company (g) If any professional person other than the shareholder is appointed as director, their number, tenure, qualification and arrangement regarding appointment process,
(h) Powers and Duties of the Board of Directors and the Managing Director,
(i) Authority of directors and delegation of authority,
(j) The quorum of the meeting of the Board of Directors, the notice of the meeting and the procedure of the meeting,
(k) Lien on shares,
(l) Shares of different classes and the rights, privileges and restrictions vested in such shares,
(D) Demand for payment of amount for shares and provisions related to confiscation of shares,
(d) Arrangements regarding transfer of shares,
(n) Matter of increase and decrease of share capital,
(b) If the company purchases its own shares,
(th) Appointment of Company Secretary,
(d) Arrangements regarding director's remuneration, allowances and facilities, (n) Accounts, accounting and auditing of the company,
(p) Arrangements for raising loans or debentures,
(f) Matters of amalgamation of companies,
(b) If there is any provision in the prevailing law requiring disclosure in the regulations of a company carrying on a particular business, such matter,
(B) Other necessary matters to be disclosed in the regulations.
(3) If any provision is inconsistent with this Act and the Articles of Association, including any provisions made in the regulations regarding the protection of directors or officers of the company, it shall be void to the extent of the inconsistency.
(4) The format of the regulations shall be as prescribed.