What Is The Meaning Of Regulatory?

What is a meaning of regulation?

1 : the act of regulating or state of being regulated.

2 : an authoritative rule specifically : a rule or order issued by a government agency and often having the force of law — see also Administrative Procedure Act..

What is another word for regulatory?

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What does regulatory system mean?

Regulatory System means the body of legal requirements for Good Manufacturing Practices, inspections, and enforcements that ensure public health protection and legal authority to assure adherence to these requirements.

What is a regulatory risk?

Regulatory Risk is generally defined as the risk of having the ‘licence to operate’ withdrawn by a regulator, or having conditions applied (retrospectively or prospectively) that adversely impact the economic value of an enterprise.

Why do we need regulations?

And by providing assurances about the safety or effectiveness of new products and services, and setting minimum mandated standards, regulation gives consumers the confidence to try something new. The third way in which regulation is good for an economy is precisely in its protection of consumers.

What is the root word of regulation?

To regulate means to impose control. … Regulate shares a root with the word, regular.

What is meant by regulatory requirements?

Both statutory requirements and regulatory requirements are those requirements that are required by law. … “Statutory refers to laws passed by a state and/or central government, while regulatory refers to a rule issued by a regulatory body appointed by a state and/or central government.”

What is regulatory oversight?

Regulatory oversight is a crucial ingredient of effective regulatory frameworks. It helps bridge the gap between formal requirements for regulatory policy and the implementation of better regulation efforts in practice.