When the Minister or the Authority makes an order, regulation, regulatory notice or other notice under this Act, the Minister or the Authority, as the case may be, shall have regard to the following principles and policies to the extent applicable to the relevant order, regulation, regulatory notice or other notice, as the case may be:

(a) the purposes of this Act as set out in section 2;

(b) the need to develop the business of one or more types of designated credit institutions permitted by this Act having regard to domestic or international markets in which the institutions operate or may propose to operate;

(c) the need to protect the interests of preferred creditors or other creditors of one or more types of designated credit institutions permitted by this Act;

(d) the need for the proper and proportionate regulation of one or more types of designated credit institutions permitted by this Act; and

(e) regulations and directives made by competent organs of the European Union which have been implemented under the law of the State and which are relevant to asset covered securities.