Regulations in general

(1) The Minister may make regulations for the better carrying out of the provisions of this Act and for prescribing anything that needs to be prescribed. CAP. 272. (2) Notwithstanding sub-section (1), the International Financial Services Commission, with the approval of the Minister, may make regulations in relation to any matter or thing required to be done by the International Financial Services Commission under this Act, if that matter or thing is not the (3) Regulations made under this section– (a) may prescribe offences and may prescribe penalties not exceeding a fine of one hundred thousand dollars in respect of any one offence; and (b) shall be subject to negative resolution of the National Assembly. Act, the CAP. 55. CAP. 273:01.