Rule making power under the Companies Act allows delegated rules with penal sanctions and parliamentary oversight. Central Government may, by notification in the Official Gazette, make rules to prescribe matters under the Companies Act and to carry out its purposes; such rules may provide fines and daily penalties for continuing contraventions. Every rule must be laid before each House of Parliament for a specified period, during which both Houses can agree to modify or annul the rule without affecting the validity of prior actions. Securities and Exchange Board of India regulations under the Act are similarly subject to parliamentary laying and potential modification or annulment.