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    what is regulations

    0  Views: 448 Answers: 1 Posted: 12 years ago

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    The word "regulation" is used in two senses --
    a formal sense to refer to laws promulgated by a government executive branch under a delegation of authority from the legislative branch, discussed in Regulation (law). This sense of "Regulation (law)" can be distinguished from primary legislation or statute (by Parliament or elected legislative body) on the one hand and judge-made common law or case law on the other.  



    A regulation is a legal provision that creates, limits, or constrains a right, creates or limits a duty, or allocates a responsibility. Regulation can take many forms: legal restrictions promulgated by a government authority, contractual obligations that bind many parties (for example, "insurance regulations" that arise out of contracts between insurers and their insureds), self-regulation by an industry such as through a trade association, social regulation (e.g. norms), co-regulation, or market regulation. One can consider regulation as actions of conduct imposing sanctions, such as a fine, to the extent permitted by the law of the land.
    Regulation mandated by a state attempts to produce outcomes which might not otherwise occur, produce or prevent outcomes in different places to what might otherwise occur, or produce or prevent outcomes in different timescales than would otherwise occur. In this way, regulations can be seen as implementation artifacts of policy statements. Common examples of regulation include controls on market entries, prices, wages, development approvals, pollution effects, employment for certain people in certain industries, standards of production for certain goods, the military forces and services. The economics of imposing or removing regulations relating to markets is analysed in regulatory economics.



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