—(1) The Authority may make regulations for carrying out the purposes and provisions of this Act and for the due administration thereof.
(2) Without prejudice to the generality of subsection (1), the Authority may make regulations for or with respect to —
applications for the grant of licences under this Act and matters incidental thereto;
the minimum financial and other requirements that an applicant must fulfil for it to be issued a licence under this Act;
the activities of, and standards to be maintained by, a licensed trust company, an exempt person or any person who is granted an exemption under section 80, including the manner, method and place of conducting trust business;
the particulars to be recorded in, or in respect of, books kept by a licensed trust company; and
the requirements and restrictions relating to the granting of any unsecured advance, unsecured loan or unsecured credit facility by a licensed trust company.
(3) Except as otherwise expressly provided in this Act, the regulations made under this Act —
may be of general or specific application;
may provide that a contravention of any specified provision thereof shall be an offence; and
may provide for penalties not exceeding a fine of $25,000 or imprisonment for a term not exceeding 12 months or both for each offence.