Section 411: Regulations

411. Regulations (1) The Minister may— (a) make such regulations as he thinks fit for the purposes of this Act; (b) by regulations, amend any of the Schedules. (2) Any regulations made under this Act may— (a) provide for the taking of fees and levying of charges; (b) provide that any person who contravenes them shall commit an offence and shall, on conviction, be liable to a fine not exceeding 500,000 rupees and to imprisonment for a term not exceeding 2 years. (3) (a) Before the Minister makes any regulations in relation to the qualifications of Insolvency Practitioners, he shall, through the Insolvency Service, not less than 60 days before the regulations are made— (i) give written notice to all professional bodies and all persons who are, at the time of the notice, on the register of Insolvency Practitioners; and (ii) give public notice, of his intention to do so. I14 – 221 [Issue 6] Insolvency Act (b) A notice under paragraph (a) shall state— (i) the matters to be contained in the regulations; (ii) that a copy of the draft regulations is available for inspection at the office of the Director on weekdays from the hours of 9:00 a.m. to 4:00 p.m. and may also be consulted on the website of the Office; and (iii) that submissions on the draft regulations may be made, in writing or by e-mail, to the Director not later than 30 days from the date of the publication of the notice. [S. 411 amended by s. 14 (c) of Act 27 of 2012 w.e.f. 22 December 2012.]