International Financial Services Centres Authority (Procedure for making regulations and subsidiary instructions) Regulations, 2025
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Public consultation governs regulatory rulemaking, with written exceptions, transparency requirements, periodic review, and preservation of earlier instruments.
Public consultation governs the making and amendment of regulations and specified subsidiary instructions that impose requirements or explain the meaning, scope or intent of provisions. Consultation papers must disclose the regulatory problem, objectives, enabling basis, draft measures and comment process. Comments are ordinarily invited for at least 21 calendar days, subject to recorded exceptions by the Chairperson. Comment summaries and responses must generally be published before notification or issuance, while substantive changes may require written reasons or fresh consultation. Regulations are ordinarily reviewed every five years, and specified urgent, procedural, coordinated, market-integrity, national-security and international-obligation matters are excluded.