Section 118 – Regulations
482.Subsection (1) of this section makes provision about the powers that attach to any power to make regulations under the Act. In particular, different provision can be made for different purposes. This would allow, for example, different types of pledge enforcement notice to be prescribed for different types of encumbered property or different types of debtor.
483.Subsections (2) to (4) make provision about the level of parliamentary scrutiny to which regulations under the Act are subject. For details of the negative and affirmative procedure, see, respectively, sections 28 and 29 of the Interpretation and Legislative Reform (Scotland) Act 2010.
484.Subsection (5) provides that this section does not apply to commencement regulations.
