§ 122 — Regulations

122.—(1) Subject to subsection (5), the Minister may make Regulations necessary or convenient to be prescribed for carrying out or giving effect to this Act.(2) Without limiting subsection (1), the Regulations may make provision for —(a)

an electronic or internet‑based system of lodgment of donation reports, foreign affiliations reports and declarations under Part 5 or 6 and the issuance of certificates under this Act;

(b)

requiring politically significant persons to obtain valuations from a valuer approved by a competent authority of political donations that are not gifts of money or enabling a competent authority to obtain any such valuations;

(c)

requiring the making, keeping and auditing of records of political donations made or received, and expenditure incurred, by politically significant persons and other persons, and requiring and otherwise providing for the production, examination and copying of those records; and

(d)

the purpose of providing practical guidance or certainty in respect of any one or more of the requirements of Part 3.

(3) Regulations made under this section may —(a)

create offences which may be punishable with a fine not exceeding $5,000; and

(b)

provide for such saving, transitional and other consequential provisions as the Minister considers necessary or expedient consequent on persons becoming politically significant persons or ceasing to be politically significant persons, on amendments to the Regulations or other similar matters.

(4) All Regulations made under this section must be presented to Parliament as soon as possible after publication in the Gazette.

(5) However, where a writ is issued, no Regulations are to be made amending —(a)

the applicable cap for anonymous donations; or

(b)

the minimum amount of political donation that is a reportable political donation,

until after the last day prescribed by section 74(1) of the Parliamentary Elections Act 1954 or, in the case of a presidential election, by section 56(1) of the Presidential Elections Act 1991, for the transmission of returns respecting election expenses in connection with the election or (as the case may be) presidential election.

—(1) Subject to subsection (5), the Minister may make Regulations necessary or convenient to be prescribed for carrying out or giving effect to this Act.

(2) Without limiting subsection (1), the Regulations may make provision for —(a)

an electronic or internet‑based system of lodgment of donation reports, foreign affiliations reports and declarations under Part 5 or 6 and the issuance of certificates under this Act;

(b)

requiring politically significant persons to obtain valuations from a valuer approved by a competent authority of political donations that are not gifts of money or enabling a competent authority to obtain any such valuations;

(c)

requiring the making, keeping and auditing of records of political donations made or received, and expenditure incurred, by politically significant persons and other persons, and requiring and otherwise providing for the production, examination and copying of those records; and

(d)

the purpose of providing practical guidance or certainty in respect of any one or more of the requirements of Part 3.

(3) Regulations made under this section may —(a)

create offences which may be punishable with a fine not exceeding $5,000; and

(b)

provide for such saving, transitional and other consequential provisions as the Minister considers necessary or expedient consequent on persons becoming politically significant persons or ceasing to be politically significant persons, on amendments to the Regulations or other similar matters.

(4) All Regulations made under this section must be presented to Parliament as soon as possible after publication in the Gazette.

(5) However, where a writ is issued, no Regulations are to be made amending —(a)

the applicable cap for anonymous donations; or

(b)

the minimum amount of political donation that is a reportable political donation,

until after the last day prescribed by section 74(1) of the Parliamentary Elections Act 1954 or, in the case of a presidential election, by section 56(1) of the Presidential Elections Act 1991, for the transmission of returns respecting election expenses in connection with the election or (as the case may be) presidential election.