Settlement Agents Act 1981

The Governor may make such regulations as are contemplated by this Act or as he considers necessary or expedient for the purposes of this Act.

Without limiting the generality of subsection (1) the regulations may —

prescribe the procedure of the Commissioner;

provide for the advertising of notices of applications for licences;

provide for all matters relating to the effecting of a Master Insurance Policy pursuant to section 35;

provide for the conduct of the business of a settlement agent during any period in which that business temporarily is not under his supervision and control and provide that the person temporarily conducting the business in accordance with the regulations so made does not commit an offence under section 26;

prescribe, and provide for the recovery of any fee for the purposes of this Act, but not in connection with the initiation of a proceeding before the State Administrative Tribunal;

prescribe the particulars to be recorded in the registers required to be kept under this Act;

prescribe a body or class of bodies for the purposes of the definition of authorised financial institution in section 48;

prescribe a rate of interest and the times at which such interest is to be paid for the purposes of section 49B(1);

prescribe the information to be contained in a receipt for the purposes of section 50(1)(a);

prescribe the manner in which a record is to be kept, and the information to be contained in a record, for the purposes of section 50(2);

prescribe the times at which and the proportions in which moneys are to be paid or transferred under section 105;

prescribe the manner of making claims against the Fidelity Guarantee Account and the manner of verifying any claim including a condition that the claim be verified by statutory declaration;

prescribe penalties not exceeding $1 000 for any breach of the regulations.