Tasmanian Development Act 1983

The Governor may make regulations for the purposes of this Act.

Without limiting the generality of subsection (1), the regulations may make provision for, or with respect to – the duties of the directors, an administrator, and the officers of TDR; the issue of debentures and inscribed stock under section 24(1) and the rights and duties of the holders of any such debentures or inscribed stock; and subject to Schedule 4, matters of a transitional or savings nature consequent on the enactment of this Act or any amending Act, including the procedure to be followed by TDR in registering a mortgage under clause 8 of Part II of Schedule 4.

The regulations referred to in subsection (2)(a) may provide – that it is an offence, punishable on summary conviction, for a person to contravene, or fail to comply with, any of the regulations and may provide in respect of any such offence for the imposition of a penalty not exceeding 100 penalty units or imprisonment for a period not exceeding 2 years, or both; and for the recovery by TDR of – any profit gained by any person; or compensation in case of any loss or damage suffered by TDR – as a result of a contravention or failure to comply with the regulations.

The regulations, other than those referred to in subsection (2)(a), may provide that it is an offence, punishable on summary conviction, for a person to contravene, or fail to comply with, any of the regulations and may provide in respect of any such offence for the imposition of a penalty not exceeding 10 penalty units or imprisonment for a period not exceeding 3 months, or both.

Regulations under this section – may be made subject to such conditions, or 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; may take effect on the commencement day or on a later day; and if they are made under subsection (2)(c), may have effect notwithstanding the Personal Property Securities Act 2009 of the Commonwealth, and the provisions of the State Advances Act 1935 continued in force by virtue of clause 3 of Part II of Schedule 4.