| (1) | The Minister may make regulations not inconsistent with this Act with regard to— |
| (a) | any matter that is required or permitted to be prescribed in terms of this Act; and |
| (b) | any other matter necessary for the better implementation and administration of the Act or a function or power provided for in this Act: |
Provided that in making regulations the Minister must maintain the operational independence of the Authority.
| (a) | Before the Minister makes any regulation under this section or section 5, the Minister must— |
| (i) | ensure consultation with recognised industry bodies; |
| (ii) | consider any recommendations from the Authority prior to the publication of draft regulations; |
| (iii) | publish a notice of the release of draft regulations in the Gazette, indicating that the draft regulations are available on the National Treasury official website, and calling for public comment in writing within a period stated in the notice, which period may not be less than 30 days from the date of publication of the notice; |
| (iv) | in respect of draft regulations to be published in terms of section 5(1), publish on the National Treasury official website, along with the draft regulations, a policy document that informs the draft regulations, and a report on the expediency, effect and implication of the regulations; |
| (v) | in respect of draft regulations to be published in terms of section 5(1)(b), publish a notice identifying persons who may be declared to be regulated persons and inviting comment from those persons in writing within a period stated in the notice, which period may not be less than 30 days from the date of publication of the notice; and |
| (vi) | submit the draft regulations to Parliament, while it is in session, for parliamentary scrutiny at least one month before promulgation. |
| (b) | After consideration of any comments received in response to the publication and tabling of the draft regulations in terms of paragraph (a)— |
| (i) | the Minister may alter the draft regulations, and need not publish the alterations before promulgating the regulations; and |
| (ii) | after promulgating the regulations, a copy of the promulgated regulations must be tabled in Parliament. |
| (c) | The Minister must, within a reasonable period after prescribing regulations in terms of this section or section 5, publish on the official website of the National Treasury a document summarising the comments that were received in response to the published draft regulations, and providing a brief response to those comments that were not accommodated in the final regulations promulgated by the Minister. |
