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CMA Final · Corporate and Economic Laws · Laws and Regulations related to Banking Sector

Under Section 58 of the RBI Act, 1934, regulations made by the Central Board must, as soon as may be after being made, be forwarded to the Central Government. For how long must a copy be laid before each House of Parliament while in session?

A copy of the regulation must be laid before each House of Parliament, while in session, for a total period of thirty days. This period may fall within one session or be spread across two or more successive sessions.

  1. AA total period of thirty days, in one session or two or more successive sessionsCorrect
  2. BA total period of fifteen days, in one session only
  3. CA total period of sixty days, in two sessions only
  4. DA total period of ninety days, in three successive sessions

Explanation

Section 58(4) requires the copy to be laid before each House for a total period of thirty days, which may fall in one session or in two or more successive sessions. The other periods and the one-session limit are not in the provision.

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