Regulations

(1) The Minister may from time to time make such regulations as maybe deemed necessary or expedient for the purpose of giving full effect to the provisions of this Act and for the due administration thereof. (2) Without limiting the general powers conferred by sub- section (1), it is hereby declared that regulations may be made under this section for all or any of the following purposes– (a) for prohibiting or restricting the issue or transfer of any share in a registered insurer or any interest in such a share, to any specified person or class of persons, (b) for restricting a registered insurer and any related company from entering into transactions of any specified description with any person of any specified class or description; (c) providing for the preparation, form and content of the annual accounts of a registered (d) providing for the preparation, form and content of statements, reports and information to be annexed to annual accounts; (e) providing for the solvency margins to be maintained by registered insurers in respect of different categories of business; (f) for restricting the appointment of auditors to persons who have effected insurance of such type and amount as may be specified; (g) providing for the determination of the level and amount of assets and liabilities for the purposes of the calculations of margins of solvency under this Act, and that, for any specified purpose, assets or liabilities of any specified category or description shall be left out of account or shall be taken into account only to a specified extent; (h) for the fixing of penalties for contravening any provision of regulations made under this Act; and (i) for purposes connected with any of the matters specified in paragraphs (a) and (b).