Section 55: Regulations

55. Regulations (1) The Minister may— (a) make such regulations as he thinks fit for the purposes of this Act; (b) by regulations, amend the Schedule. (2) Any regulations made under this Act may— (a) provide for the taking of fees and levying of charges; (b) make such provision, not inconsistent with this Act, as may appear to him necessary or expedient to remove any difficulty or inconsistency which arises in giving effect to the provisions of this Act; (c) provide for the setting up of an arbitration panel to deal with disputes relating to the activities of a private pension scheme; (d) provide that any person who contravenes any regulations made under this Act shall commit an offence and shall, on conviction, be liable to a fine not exceeding 350,000 rupees and to imprisonment for a term not exceeding 2 years. 56. – 57. —