71Regulations

71 Regulations

71 Regulations

(1) The Governor may make regulations, not inconsistent with this Act, for or with respect to any matter that by this Act is required or permitted to be prescribed or that is necessary or convenient to be prescribed for carrying out or giving effect to this Act and, in particular, for or with respect to:

(a) forms required for the purposes of this Act,

(b) fees for any matter or thing done or to be done by or on behalf of the Supervisor under this Act,

(c) maximum amounts chargeable by loan fund companies by way of fees in respect of any matters specified in the regulations,

(d) maximum amounts which loan fund companies may impose on their members, and on holders of options to acquire loan entitlement shares in those companies, as penalties in respect of any matters specified in the regulations,

(e) the form and manner in which loan fund companies are required to keep their registers of loan priority numbers and of forfeitures and surrenders under this Act,

(f) the times and places at which general meetings of loan fund companies are required to be, or are permitted to be, held,

(g) the manner in which voting on resolutions put to, and the election of officers and other business transacted at, general meetings of loan fund companies is required to be, or is permitted to be, conducted, and

(h) prohibiting or regulating the forfeiture of loan entitlement shares in a loan fund company:

(i) for any reason other than the non-payment of calls or instalments due in respect of the shares, or

(ii) in respect of which the company has made a loan or the holder has a vested loan entitlement.

(2) Regulations under subsection (1) may be made so as to apply differently according to such factors as may be specified in the regulations or according to such limitations or restrictions, whether as to time or circumstance or otherwise, as may be so specified.

(3) Regulations under subsection (1) may prescribe offences for any contravention of or failure to comply with any of the regulations and may impose a penalty in respect of any such offence not exceeding 5 penalty units and, in the case of a continuing offence, a further penalty not exceeding 0.1 penalty unit for each day during which the offence continues.