Cap. 610 Art. 14Minister’s power to make regulations.

(1) The Minister may, after consulting the

Regulator, make regulations for the purposes of:

(a) the better implementation of the provisions of this Act, any Remit Regulation requirement and any other implementing measures;

(b) the proper application of the prohibitions established under this Act;

(c) the imposition of administrative fines by the Regulator in terms of article 12;

(d) in regard to the enforcement powers required by the Regulator to perform its functions under this Act;

(e) for any aspect relating to the procedure and conditions that may be imposed in relation to any authorisation, registration or notification under this Act including where applicable the grant, renewal, transfer, suspension, cancellation and duration of any such authorisation, registration or notification, the manner in which applications for such authorisation, registration or notification is to be made, the content and form of such applications and how they may be granted, renewed or transferred, the fees payable, and the manner in which renewals or transfers thereof is to be indicated;

(f) to give effect to any international obligation entered into by Government in relation to the Remit Regulation and to this Act;

(g) for prescribing the information to be retained by any person under this Act and the provision of statistical data by such persons, and on any other matter relating to provision of information by any person to the Regulator;

(h) for prescribing anything which may be or is required to be prescribed by this Act and in terms of any Remit Regulation requirement.

(2) Regulations made under this article may establish offences and may impose administrative fines or other administrative measures in respect of any contravention thereof or failure of compliance therewith, not exceeding:

(a) in the case of a criminal infringement, a fine (multa) of one hundred thousand euro (€100,000) or imprisonment for a term not exceeding one year, or both such fine and imprisonment, as the case may be; or

(b) in the case of an administrative fine, a fine (multa) of one hundred thousand euro (€100,000) for each contravention and, or six hundred euro (€600) for each day of non-compliance for each infringement or failure to comply, as the case may be.

(3) Regulations made under this article may also provide for the assignment of power and authority to the Regulator in order to enable it to ensure that the provisions of the regulations are properly implemented.