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Commencement Orders bringing legislation that affects this Act into force:
(1)In this Act “regulations” means regulations made by the Secretary of State by statutory instrument.
(2)Regulations under this Act may in particular—
(a)make provision for dealing with non-compliance with any of the regulations (including the creation of criminal offences),
(b)impose fees (which shall be paid into the Consolidated Fund), and
(c)provide for the exercise of functions by persons prescribed by the regulations.
(3)Regulations under this Act may—
(a)contain any appropriate consequential, incidental, supplementary or transitional provisions or savings, and
(b)make different provision for different purposes.
(4)No regulations to which this subsection applies shall be made unless a draft of the statutory instrument containing the regulations (whether or not together with other provisions) has been laid before, and approved by a resolution of, each House of Parliament.
(5)Subsection (4) applies to—
(a)regulations under section 14(2) not consisting entirely of the application or incorporation (with or without modifications) of provisions contained in or made under the M1Insolvency Act 1986,
(b)regulations under section 15 not consisting entirely of the application or incorporation (with or without modifications) of provisions contained in or made under Part I, Chapter VIII of Part V, Part VII, Parts XI to XIII, Parts XVI to XVIII, Part XX or Parts XXIV to XXVI of the M2Companies Act 1985,
(c)regulations under section 14 or 15 making provision about oversea limited liability partnerships, and
(d)regulations under section 16.
(6)A statutory instrument containing regulations under this Act shall (unless a draft of it has been approved by a resolution of each House of Parliament) be subject to annulment in pursuance of a resolution of either House of Parliament.
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