(1) The Minister may, on the recommendation of the Commission, make regulations requiring licensees to have and maintain, in respect of the securities business for which they are licensed, the financial resources set by the regulations.
(2) Financial resources regulations may—
(a) impose requirements which are absolute or which vary by reference to factors which either are specified in, or are to be determined in accordance with, the regulations;
(b) impose requirements which apply differently to different classes of business for which licensees are licensed, and which take account of a business carried on by the licensee with, or in addition to, the business referred to in subsection (1);
(c) provide for the assets, liabilities and other matters to be taken into account under the regulations to determine a person's financial resources and the extent to which, and the manner in which, they are to be taken into account for that purpose;
(d) require licensees to submit to the Commission, at intervals set out in the regulations, returns of their financial resources in a form set by the Commission.