Cap. 632 Art. 12Regulations.

The Minister may, on the recommendation of the competent authority, make regulations not inconsistent with the provisions of this Act, to give better effect to any of such provisions and generally to regulate the role and functions of insolvency practitioners and registered firms, and, without prejudice to the generality of the foregoing, such regulations may in particular include provisions with respect to the punishments or administrative penalties to which a person may become liable, or other consequences or effects in the event of any violation or non-compliance with any provision of this Act or of any regulation or directive issued under it.