Is there any specific process that must be followed for such regulations to become effective?
Yes, there is a specific process that must be followed for such regulations to become effective. According to paragraph 4 of the context provided: "Every regulation shall be submitted forthwith to the Governor and, until assented to by him, shall have no effect." This means that the Governor's approval is required for any regulation made by a Regional Council or District Council concerning the levy and collection of taxes specified in sub-paragraphs (2) and (3) of this paragraph. The regulation will not be effective until it has been assented to by the Governor.