Statutory and regulatory are both rules and laws passed by the government body that needs to be followed by the citizens coming under that region’s government. Both these laws take time for their amendment, and after satisfying all the members of the government, the law is passed. Once the law is passed, one has to abide by them, or it could be a criminal offense. Both of these laws are enforced for the smooth conduction of any activity and equality among individuals.
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Statutory vs Regulatory
The main difference between statutory and regulatory is that statutory law is passed by a higher rank government body. This could be the state government or the central government. In contrast, regulatory laws are passed by the regional government bodies that are a part of central or state government. These government bodies are commanded by the state or federal government.
Statutory is a term that points to something that comes from the parliament or any legislative body. This term is used along with laws, and hence the term “statutory laws” is derived. These laws are passed under the presence of legislative members. For any law to be enforced, it must be passed as a bill in the parliament.
Regulatory is a term used to describe the regulation of law. When a law is created and later enforced, it is termed as regulatory. Regulatory together used with laws is used to point out the laws that are passed by small governmental bodies that work under the state or the central government. They make sure that citizens abide by the rules that are made by the government.
Comparison Table Between Statutory and Regulatory
|Parameters of Comparison||Statutory||Regulatory|
|Assigned By||It is assigned by the state or the central government.||It is assigned by governmental organizations or executives.|
|Followed By||It is followed by the citizens of a country.||It is followed by the citizens of a particular region or area.|
|Process||It has a long process for its execution.||It takes a shorter time to be passed.|
|Conditions||It is an independent law.||It takes inspiration from statutory laws.|
|People involved||Members of parliament can be involved in its execution.||It is executed by lawyers and officials.|
What is Statutory?
Statutory is used to describe an action that is taken by the legislative body and the parliament. Statutory law is used to describe the rules and regulations that are passed by the state or by the central government itself. Passing a statutory law is not easy. The law has to go under several supervisions so as to make sure that the law does well to the citizens of the country.
There are several processes involved in its passing. It includes the passing of a bill. The bill is passed by any member of parliament: each and every legislative body member votes against or for the bill. If the bill gains enough validation, then the executive branch further deals with it.
In case the law is not passed successfully, few changes can be made to it and then again be passed in the parliament. Statutory laws are passed all over the country. It does not matter whether a region has those laws or not. If the law is statutory, it has to be followed anyway.
When a statutory law is written, it is made sure that it does not have any other meaning in any way, as when different cases come to the court, these laws should not be interpretable.
What is Regulatory?
Regulatory is a special term used to describe the regulation of laws that come from different levels of the government. Any law passed by any sub-division of the government comes under regulatory law. In the long term, these laws help the public in one way or the other.
Some law enforcing bodies that can pass regulatory law is the finance committee, educational committee, bank of England (in the UK), FBI, Health administration, etc. The regulatory word comes from the word regulation, which means enforcing a law. Therefore these government executives are not only responsible for making new laws but also make sure that the laws made by the higher authorities are followed by the general public of the country.
It is important to know that no regulatory law can overwrite the laws that come from the state or central government. The government also appoints regulatory lawyers who are responsible for suggesting thoughtful suggestions during the process of law-making by different organizations.
The lawyers also see that any law that is made by any governmental organization does not hurdle any law coming from bigger governmental bodies. They can also support any individual to make sure they can easily gain justice, even from the smallest governmental-led organization.
Main Differences Between Statutory and Regulatory
- Statutory laws are enforced and regulated by the legislature and parliament, whereas regulatory laws are made by government executives and organizations.
- Statutory laws are followed by the general public of a country, whereas regulatory laws are meant to be followed by a regional public.
- Statutory laws are independently made, whereas regulatory laws are usually made under the influence of statutory laws.
- Statutory laws have to pass under various processes to be finally enforced, whereas regulatory laws are easily implemented.
- Statutory laws are handled by a member of legislature or parliament, whereas executive or lawyers handle regulatory laws.
It can be concluded that both statutory and regulatory laws are for the good of the public. Statutory laws are passed and enforced by high government officials. It particularly descends from the legislature. However, the regulatory law is passed by the executives and governmental organizations working on the ground level for the public welfare. Overall both these laws have to be followed by the public in every way possible.
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