(1) The Minister may, on the advice of the Council, by legislative instrument, make Regulations to
(a) prescribe practice standards for members of the Institute;
(b) provide for the discipline of members;
(c) prescribe the fees to be paid under this Act; and
(d) provide for any other matter necessary for the effective implementation of the provisions of this Act.
(2) A person who commits an offence under the Regulations is liable on summary conviction to a fine of not more than five thousand penalty units or to a term of imprisonment of not more than one year or to both.