s 81Q Power of Authority to make regulations
81Q.—(1) Without affecting section 341, the Authority may make regulations for the purposes of this Part, including regulations —(a) relating to the approval of approved clearing houses and the recognition of recognised clearing houses; (b) relating to the requirements applicable to any person who establishes, operates or assists in establishing or operating a clearing facility, whether or not the person is approved as an approved clearing house under section 51(1)(a) or recognised as a recognised clearing house under section 51(1)(b) or (2); and (c) for the purposes of section 59 and, in particular, specifying measures to manage any risks assumed by an approved clearing house.[34/2012; 4/2017] (2) Regulations made under this section may provide —(a) that a contravention of any specified provision thereof shall be an offence; and (b) for a penalty not exceeding a fine of $150,000 or imprisonment for a term not exceeding 12 months or both for each offence and, in the case of a continuing offence, for a further penalty not exceeding a fine of 10% of the maximum fine prescribed for that offence for every day or part of a day during which the offence continues after conviction.[34/2012]