| (1) | The Minister, after consulting the Centre, may make, repeal and amend regulations concerning— |
| (b) | any ancillary or incidental administrative or procedural matter which is necessary to prescribe for the proper implementation or administration of this Act. |
| (2) | Regulations in terms of subsection (1) may— |
| (b) | be limited to a particular accountable institution or reporting institution or person or category of accountable institutions or reporting institutions or persons or a particular category of transactions; and |
| (c) | for a contravention of or failure to comply with any specific regulation, prescribe imprisonment for a period not exceeding three years or a fine not exceeding R1 000 000 or such administrative sanction as may apply |
| (3) | [Section 77(3) deleted by section 56 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017)] |
| (4) | The Minister must table regulations, repeals and amendments made under subsection (1) in Parliament before publication in the Gazette. |
| (5) | Before making, repealing or amending regulations in terms of subsection (1), the Minister must— |
| (a) | in the Gazette, give notice where a draft of the regulations will be available and invite submissions; and |
| (b) | consider submissions received. |
[Section 77(5) inserted by section 56 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017)]
[Section 77 substituted by section 56 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017)]
