(1) The Minister on the recommendation of the Central Bank may make Regulations —
(a) for the purpose of implementing the provisions of this Act; or
(b) respecting any other matter that the Minister considers necessary to carry out the intent or purposes of this Act.
(2) Without limiting the generality of subsection (1), the Minister on the recommendation of the Central Bank may make Regulations prescribing —
(a) the fees to be paid for the grant of licences, the continuation of licences and the reinstatement of licences that have been suspended;
(b) the requirements regarding applicants for licences including qualification of directors and officers of the applicants;
(c) the obligations and duties of credit bureaus including disclosure of information to data subjects and submission of periodic returns to the Central Bank;
(d) the obligations of credit information providers and subscribers;
(e) the procedures for the resolution of complaints and disputes respecting data subjects and breaches of this Act and the Regulations;
(f) for the purposes of section 21(1), prescribing the records to be kept and maintained; or
(g) any other matter that is required or authorized by this Act to be prescribed.
(3) The Minister on the recommendation of the Central Bank may, by Regulations, provide for offences and prescribe for such offences penalties not exceeding $10 000.
(4) Regulations made under this Act are subject to negative resolution of Parliament.