Microfinance Bill, 2012 H.B. 2, 2012 Schedule before the House of Assembly, and if the House makes no resolution against the publication of the statutory instrument within the next seven sitting days after it is so laid before the House, the Minister shall cause it to be published in the Gazette. 60 Regulations (1) Subject to subsection (4), the Minister may make regulations providing for all matters which by this Act are required or permitted to be prescribed or which, in his or her opinion, are necessary or convenient to be prescribed for carrying out or giving effect to this Act. (2) Regulations may provide for⎯ (a) the conduct of microfinance business, including the specification of undesirable methods of conducting business; (b) limits on the amount that may be lent by a microfinancier to any one borrower or class of borrower; (c) the disclosure by microfinanciers of information concerning transactions, deposits and funds held or dealt with by them, where such information is required for the purposes of⎯ (i) detecting, investigating or preventing an offence, Zimbabwean law or the law of any other country; or whether under (ii) recovering the proceeds of any offence referred to in subparagraph (i); or (iii) complying with any obligation of Zimbabwe under an international convention, treaty or agreement; (d) the standard from of a microfinance loan agreement; (e) the preservation of records by microfinanciers; (f) the issue of directions by the Registrar or the Reserve Bank to microfinanciers in respect of any matter relating to their microfinance business; (g) fees and charges for anything done or provided in terms of this Act; (h) the application to microfinance institutions, with or without modifications of any prudential guidelines issued by or under the Banking Act [Chapter 24:20] to banking institutions; (i) the setting up of any advisory council in connection with microfinance business. (3) Regulations may provide penalties for contraventions thereof: Provided that no such penalty shall exceed a fine of level seven or imprisonment for a period of six months or both such fine and such imprisonment. (4) Except where the urgency of the circumstances otherwise requires, any regulations which have the effect of imposing additional requirements or obligations upon microfinanciers shall afford existing microfinanciers a reasonable time within which to comply with the regulations. 59 Amendment of Cap. 14:14 The Moneylending and Rates of Interest Act [Chapter 14:14] is amended⎯ (a) the repeal of sections 2A , 2B, 3, 4, 5, 6 and 7 - 34 -