No.6/2017 NATIONAL COMPETITIVENESS COMMISSION Cap.14:36 (3) No person referred to in subsection (l) shall, for his or her personal gain, directly or otherwise, make use of any information which has come to his or her knowledge in the exercise of his or her functions in terms of this Act. (4) Any person who contravenes any provision of this section shall be guilty of an offence and liable to a fine not exceeding level ten or to imprisonment for a period not exceeding two years or to both such fine and such imprisonment. 19 Exemption of Commission from liability No liability shall attach to the Commission or to a Commissioner or any committee or employee or agent of the Commission for any loss or damage sustained by any person as a result of the bonafide exercise or performance of any function which by or in terms of this Act is conferred or imposed upon the Commission or a Commissioner or any committee, employee or agent thereof: Provided that this section shall not be construed so as to prevent any person from recovering compensation for any loss or damage sustained by him or her which was caused by gross negligence or fraud. 20 Regulations (I) Subject to subsection (2), the Commission, may make regulations providing for all matters which by this Act are required or permitted to be prescribed or which in its opinion, are necessary or convenient to be prescribed in order to carry out or give effect to this Act. (2) Regulations made in terms of subsection (1) shall not be effective until they have been approved by the Minister and published in a statutory instrument. 21 Repeal of Cap 14:32 The National Incomes and Pricing Act [Chapterl4:32] (No. 2of2007) is repealed. 22 Transitional provisions (1) In this section- "repealedAct" means National Incomes and Pricing Commission Act [Chapter 14:32] (No.2 of 2007). (2) Any order, notice, application, exemption, approval, permission or any other thing which was lawfully made, granted, given, issued, done or commenced in terms of the repealed Act and which immediately before the date of commencement of this Act, had or was capable of acquiring legal effect, shall continue to have, or be capable of acquiring, as the case may be, legal effect as if it had been made, granted, given, issued, done or commenced as the case may be, under the appropriate provision, if any, of this Act. (3) Any regulations which were made by the Minister under the repealed Act and which were in force immediately before the date of commencement of this Act shall continue in force as if they had been made by the Commission under the appropriate provision of this Act. 120