AI Summary of 41. Bank’s power to prescribe fees
The Bank, with the prior consent of the Minister, may establish regulations that prescribe fees relating to any provision of the Act that mandates a fee payment. Such regulations may outline the individuals or classes of individuals required to pay specific fees, the amounts of those fees, and the processes for fee collection.
Furthermore, the Bank is authorised to recover any fee under these regulations through proceedings in a court of competent jurisdiction, treating the owed amount as a debt. Additionally, the Bank has the discretion to refund either the entirety or a portion of any fee that has been paid or is due under these regulations.
41. Bank’s power to prescribe fees
(1) The Bank may, with the prior consent of the Minister, make regulations prescribing fees for the purpose of any provision of this Act that provides for the payment of a fee.
(2) In particular, regulations under subsection (1) may provide for any of the following matters:
(a) the persons, or classes of persons, who are required to pay specified kinds of fees;
(b) the amounts of specified kinds of fees;
(c) the collection of fees.
(3) The Bank may, by proceedings in a court of competent jurisdiction, recover as a debt an amount payable as a fee under regulations in force under this section.
(4) The Bank may refund the whole or a part of a fee paid or payable under regulations in force under this section.