(1) Without limitation to specific provisions in this Act enabling the Minister to make regulations, the Minister may make regulations, on the recommendation of the Commission, for or with respect to—
(a) applications for licences, the issue of licences and incidental matters;
(b) the display of licences and the issue of duplicate licences;
(c) the qualifications, experience and training required of licensees, the examinations that applicants for licences may be required to take, and the circumstances in which they may be excused from such requirements;
(d) the making of annual or other regular returns to the Commission by licensees;
(e) the conditions subject to which securities may be listed and the circumstances in which dealings in listed securities shall be suspended;
(f) insider dealings and market manipulation;
(g) the particulars to be recorded in relation to accounts to be kept for the purposes of this Act, and the particulars to be recorded in profit and loss accounts and balance sheets;
(h) the information to be contained in auditors' reports required to be filed under this Act;
(i) the remuneration of an auditor appointed, and the costs of an audit carried out, under this Act;
(j) the form and content of advertisements relating to securities business, and may restrict who may issue such advertisements;
(k) the licensing and supervision of clearing agencies and persons providing securities registration, transfer or custodian services;
(l) the authorisation and regulation of self regulatory organisations;
(m) the listing and trading of foreign securities;
(n) the licensing of foreign broker dealers and limited service brokers;
(o) the licensing of foreign investment advisers;
(p) the licensing of principals and representatives of foreign intermediaries; and
(q) any matter which this Act provides is to be, or may be, prescribed;
(r) the better carrying out of the purposes and provisions of this Act;
(s) any supplementary, incidental and transitional provisions as appear to the Minister as necessary or expedient.
(Amended by Act 13 of 2005)
(2) The regulations may provide that a contravention of any specified provision shall be an offence and may provide financial penalties not exceeding—
(a) in the case of an individual, $100,000;
(b) in the case of a company, $300,000 and;
if the offence is a continuing offence, the individual or company is liable to a further fine of $500 for every day that the offence continues after conviction.
(3) The regulations may be of general or special application and may make different provision for different cases or classes of case.
(4) Regulations, whether made under this or any other section, may provide for the exercise of discretion in particular cases.