(1) The Authority may issue guidelines in administering the provisions of this Act to regulated entities and their affiliates in respect of but not limited to—
(a) prudential standards to be observed by regulated entities to ensure the safety and soundness of the funds held including policies, practices and procedures for evaluating—
(i) the quality of assets,
(ii) the liquidity requirements and ratios,
(iii) the related party transactions,
(iv) corporate governance;
(b) the management and investment of the funds of the regulated entities;
(c) the calculation and management of doubtful and delinquent loans;
(d) self insurance arrangements;
(e) auditors;
(f) actuaries;
(g) disclosures;
(h) prudential guidelines in respect of anti-money laundering and combating the financing of terrorism.
(2) Any guidelines issued under subsection (1) must be consistent with international best practice. (Amended by Act 7 of 2016)
(3) Where the Authority intends to make any substantive modification to the guidelines, the Authority shall consult with the regulated entities.
(4) The Authority may—
(a) make the guidelines and all amendments to the guidelines available for inspection by the public;
(b) at such intervals as the Authority determines, review any guidelines for the time being in force;
(c) publish in the Gazette the guidelines issued under this section and any amendment to the guidelines.