23. Regulations

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The Minister may make regulations for the purpose of carrying out or giving effect to the principles and provisions of this Act or in respect of matters for which regulations are required or authorized by this Act to be made including the following:—

(i)

the amount of the fees to be charged for services rendered and the manner of collecting such fee including the manner of carrying out the function of maintaining the Register in terms of section 7

and the matters to be included in such Register;

(ii)

the manner to conduct searches including the manner to use electronic records;

(iii)

form for the submission of notices and information required;

(iv)

particulars of the judgment creditor and the details of the movable property, identification details of the person owing payment or performance of the judgment creditor, details and the notice of security.

(2)

Every regulation made by the Minister shall be published in the Gazette and shall come into operation on the date of such publication or on such later date as may be specified, therein.

(3)

Every regulation made by the Minister, shall as soon as convenient after the date of its publication in the Gazette, be brought before the Parliament for approval. Any regulation which it is not so approved shall be deemed to be rescinded from the date of disapproval, but without prejudice to anything previously done thereunder.

(4)

Notification of the date on which any regulation is deemed to be so rescinded shall be published in the Gazette.

Read on from s 24