(1) The Revenue Commissioners may make regulations for securing the payment of any duty imposed by this Chapter and generally for carrying the provisions of this Act in relation to such duty into effect and in particular for -
(a) entering into arrangements with and taking security from bookmakers,
(b) providing for the submission of returns and payment of duty,
(c) requiring the maintenance and production by bookmakers, remote bookmakers and remote betting intermediaries of their books, accounts, vouchers, and other records relating to the business carried on by them, and
(d) providing for the methods of charging, securing, collecting, remitting and repaying of duty.
(2) Every person who contravenes or fails to comply with a regulation made under this section shall be guilty of an offence and shall be liable on summary conviction to an excise penalty of €5,000.