Can Parliament pass an act for regulating such matters and what happens if it does so?
Yes, Parliament can pass an act for regulating such matters if it appears desirable to the Legislatures of two or more States and resolutions to that effect are passed by all the Houses of the Legislatures of those States. Any Act so passed shall apply to such States and to any other State by which it is adopted afterwards by resolution passed in that behalf by the House or, where there are two Houses, by each of the Houses of the Legislature of that State. The Act can be amended or repealed by an Act of Parliament but cannot be amended or repealed by an Act of the Legislature of any State to which it applies.