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PART IIICOMMUNITY INTEREST COMPANIES

Supplementary

Regulations

59.—(1) Any power to make regulations under this Part is exercisable by the Department.

(2) Regulations under this Part may confer or impose functions on the Regulator or any other person specified in the regulations (and, unless made under paragraph 4 of Schedule 5, may provide for appeals to the Appeal Officer from a person on whom functions are conferred by the regulations).

(3) No regulations to which this paragraph applies are to be made unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.

(4) Paragraph (3) applies to regulations made under (or containing provision made under)—

(a)Article 29,

(b)Article 30,

(c)Article 31,

(d)Article 33,

(e)Article 34,

(f)Article 35,

(g)Article 36,

(h)Article 45, and

(i)Article 54.

(5) Regulations under this Part are (unless a draft of them has been approved by the Assembly under paragraph (3)) subject to negative resolution.