Regulations

(1) The Minister shall, in consultation with the Anti-Money Laundering Committee, make regulations in relation to the prevention of the use of the financial system for money (2) The Minister may, in consultation with the Anti-Money Laundering Committee, make such other regulations as the Minister considers appropriate generally for giving effect to this Act and specifically in respect of anything required or permitted to be prescribed by this Act. (3) The regulations made under this section may– (a) make different provision in relation to different persons, circumstances or cases; and (b) prescribe offences against the regulations and prescribe a term of imprisonment not exceeding 2 years, a fine not exceeding five hundred thousand dollars or both in respect of any one offence. (4) Regulations made under this section shall be subject to negative resolution.