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Board of Trade may disallow byelaw.
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9. It shall be lawful for the lords of the said committee, at any time either before or after any byelaw, order, rule, or regulation shall have been laid before them as aforesaid shall have come into operation, to notify to the company who shall have made the same their disallowance thereof, and, in case the same shall be in force at the time of such disallowance, the time at which the same shall cease to be in force; and no byelaw, order, rule, or regulation which shall be so disallowed, shall have any force or effect whatsoever; or, if it shall be in force at the time of such disallowance, it shall cease to have any force or effect at the time limited in the notice of such disallowance, saving in so far as any penalty may have been then already incurred under the same.
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