(1) The Minister may make regulations to carry out the purposes of this Act. In particular and without prejudice to the generality of the foregoing power such regulations may—
(a) prescribe the duties and functions of the Registrar;
(b) prescribe provisions respecting registration and procedure under this Act;
(c) prescribe the form and particulars of the register of members of a society or branch, and register of nominees and dependants of members;
(d) prescribe provisions respecting levies and the form and particulars of a record to be kept of the levies made by a society or branch;
(e) prescribe the accounts and books to be kept by a society or branch and provide for the audit of such accounts and other matters affecting the same, and the fees for such audit, and prescribe the duties, functions, powers and authorities to be assigned to auditors;
(f) prescribe the duties of the committee of management respecting the operation of a loan fund with provision for the due recovery of loans;
(g) provide for the safe keeping and recording of securities held by the trustees of societies and branches; and prescribe provisions relating to certificates to be given by trustees at certain times;
(h) prescribe a scale of fees to be paid for matters to be transacted or for the inspection of documents under this Act, and the fees to be paid in respect of any act, matter or thing done or required to be done under the provisions of this Act;
(i) prescribe the amount of security to be given by officers having receipt or charge of money and their sureties and the forms and attestation of bonds to be given by such officers;
(j) prescribe provisions for the keeping of annual account of the anniversary expenses of societies;
(k) prescribe provisions relating to nominations by members;
(l) prescribe for the keeping of a record of benefits paid to members and the form and particulars thereof;
(m) prescribe provisions relating to inspections and enquiries under this Act;
(n) prescribe penalties not exceeding $120 for breaches of the said regulations; and
(o) provide for any matters which are authorised by this Act to be prescribed.
(2) Regulations made under this Act shall have no force or effect until they have been approved by the House of Assembly and shall have been published in the Gazette.