(1) The Revenue Commissioners shall make such regulations as seem to them to be necessary for the purpose of giving effect to this Act and of enabling them to discharge their functions thereunder and, without prejudice to the generality of the foregoing, the regulations may make provision in relation to all or any of the matters specified in subsections (2) to (15).

(2) As regards Part 2, regulations may provide for the manner in which a person may elect to be an accountable person and any such election may be cancelled, the treatment of an accountable person as a person who is not an accountable person, and the adjustments (including a charge of tax) which may be made as a condition of any such cancellation or treatment.

(3) As regards Part 3, regulations may provide for the treatment under section 27(1) of the use and services specified therein as services supplied by a person for consideration in the course of business.

(4) As regards Part 4, regulations may provide for the circumstances in which a person may exercise an election referred to in section 35A.