3. —(1) The Minister may—

(a) by regulations provide, subject to this Act, for any matter referred to in this Act as prescribed or to be prescribed, and

(b) in addition to any other power conferred on him or her to make regulations, make regulations generally for the purposes of, and for the purpose of giving full effect to, this Act.

(2) Regulations under this Act—

(a) may contain such incidental, supplementary and consequential provisions that appear to the Minister to be necessary or expedient for the purposes of the regulations, and

(b) may apply either generally or to a specified class or classes of policy, insurance undertaking or person (including a class or classes of policy, insurance undertaking or person specified in regulations under section 7) or to any other matter that may be considered by the Minister to be appropriate and may include different provisions in relation to different classes of policy, insurance undertaking or person.

(3) Where the Minister proposes to make regulations under section 7 or an order under section 9(7), he or she shall cause a draft of the regulations or order to be laid before each House of the Oireachtas and the regulations or order shall not be made until a resolution approving of the draft has been passed by each House.

(4) Every regulation or order under this Act (other than regulations made under section 7 or an order made under section 1 (3) or 9(7) shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the regulation or order is passed by either House within the next 21 days on which that House has sat after the regulation or order is laid before it, the regulation or order shall be annulled accordingly but without prejudice to the validity of anything previously done under the regulation or order.