The word "May": In legal drafting, "may" is typically construed as permissive or discretionary, rather than mandatory. In the context of Section 1 ("This Act may be called..."), it signifies that the title provided is the formal, legally recognized name of the statute, while providing the flexibility for it to be referred to as such.
"Be it enacted by Parliament...": This is a standard enacting formula used in Indian legislation. It serves to authenticate the act by declaring the authority under which the law is made—in this case, the Parliament of India—and identifies the timeline of its creation (the "Twelfth Year of the Republic of India").