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(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 [F1or the Insolvency (Northern Ireland) Order 1989],
[F2(b)regulations under section 15 not consisting entirely of the application or incorporation (with or without modifications) of provisions contained in or made under the following provisions of the Companies Act 2006 (c. 46)—
Part 4 (a company’s capacity and related matters);
Part 5 (a company’s name);
Part 6 (a company’s registered office);
Chapters 1 and 8 of Part 10 (register of directors);
Part 15 (accounts and reports);
Part 16 (audit);
Part 19 (debentures);
Part 21 (certification and transfer of securities);
Part 24 (a company’s annual return);
Part 25 (company charges);
Part 26 (arrangements and reconstructions);
Part 29 (fraudulent trading);
Part 30 (protection of members against unfair prejudice);
Part 31 (dissolution and restoration to the register);
Part 35 (the registrar of companies);
Part 36 (offences under the Companies Acts);
Part 37 (supplementary provisions);
Part 38 (interpretation).]
(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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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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