11 April 2016
Section 2 (1) enables the Department to make provision by regulations for any of the matters specified in Schedule 1.
Subsection (2) sets out that the provision that may be made is provision for and in connection with the matters mentioned in section 1.
Subsection (3) allows for regulations to provide that specified provisions of the regulations have effect in relation only to specified regulated activities, the carrying on of regulated activities in specified circumstances or the carrying on of regulated activities by specified persons or classes of person.
Subsection (4) allows for regulations to modify any statutory provision or document, make different provision for different cases, provide for the delegation of functions and impose requirements.
Subsection (5) allows regulations to contain consequential, incidental, supplementary, transitional or saving provisions as necessary.