38.—(1) The Authority may, with the approval of the Minister, make regulations necessary or convenient to be prescribed for carrying out or giving effect to this Act.
(2) Regulations made under this section may —(a)
prescribe the offences under this Act that may be compounded;
(b)
provide that any contravention of any provision of the regulations is an offence, and that the penalty for which on conviction shall be a fine not exceeding $5,000; and
(c)
provide for any saving, transitional, and other consequential, incidental and supplemental provisions that are necessary or expedient for the purposes of this Act.
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