Regulatory Framework means any laws, regulations, decrees and policies officially developed and approved by the government, for the purposes of regulating SOLID WASTE generation, collection, transport, recycling, reuse, treatment and disposal .
Why do we need a regulatory framework?
Making registration activities subject to the law , and establishing procedural rules and regulations, is essential for the efficient management, operation and maintenance of CRVS systems. Legislation helps to ensure the completeness of registration and to improve the accuracy of information held in the civil record.
What does a regulatory framework mean?
As a first step in this project, a definition of regulatory framework is proposed: it is a series of steps taken by a regulator to develop responsive regulations . More importantly, a regulatory framework is an accountability mechanism: a method by which the regulator accounts for the responsibilities conferred upon it.
What is regulatory framework example?
A regulatory framework is a model people can use for reforming and enacting regulations in an effective and logical way . ... For example, government regulators might meet to discuss a way to limit consumption of alcohol by minors.
What is the purpose of a regulatory tool?
Regulatory tools are explicit state interventions in policy, plan, project or programme (PPPP) processes, in pursuit of specific societal outcomes not achievable through normal market-based or incentive mechanisms .
What are the sources of regulatory framework?
The sources of regulation include both domestic/national laws (laws that apply to activities within the jurisdiction of a sovereign nation) and international laws (agreements between sovereign nations).
What is the business regulatory framework?
Business Regulatory Framework is specially designed to serve as an undergraduate textbook for B.Com (Honours and General) students of University of Calcutta (CU). The book seeks to provide a comprehensive coverage of the various topics relating to business law. The book is divided into two modules.
What three things are the regulatory framework of accounting?
- National financial reporting standards.
- National law.
- Market regulations.
- Security exchange rules.
Why do we need regulation?
Regulation is needed to protect the legitimate interests of businesses and the community . ... Business models can change rapidly. Regulations can quickly become redundant and the impacts of new technologies and business models can be particularly difficult to forecast.
What is regulatory framework in banking?
Bank regulations are a form of government regulation that subjects banks to certain requirements, restrictions, policies, procedures, standards, disclosures, and guidelines . This regulatory structure creates transparency between banking institutions and the individuals & corporations with whom they conduct business.
What is non regulatory framework?
Non-regulatory frameworks are those that are neither industry-specific nor regulatory . Instead, they’re technology-focused. ... Industry-specific frameworks are those developed by entities within a particular industry. They might be developed due to regulatory needs, or industry-specific issues.
What is the UK regulatory framework?
1.4 The foundation of the UK’s current regulatory framework is the Financial Services and Markets Act 2000 (FSMA) . Previously, financial regulation was based on a patchwork of statutes with a range of regulatory bodies, many of which were self-regulatory, responsible for policing industry standards.
What is an example of a regulatory body?
A regulatory body is a public or government agency created to oversee specific industries and practices . An example of a media regulatory body is OFCOM, a independent UK regulator for the UK media and communications industry.
What is a good regulation?
It discusses five criteria for good regulation: whether the action or regime is supported by legislative authority ; whether there is an appropriate scheme of accountability; whether procedures are fair, accessible, and open; whether the regulator is acting with sufficient expertise; and whether the action or regime is ...
What do regulations do?
A regulation is a set of requirements issued by a federal government agency to implement laws passed by Congress . ... Public input is critical to the rulemaking process because it provides important information about the potential impact of a proposed regulation.
What is the regulatory framework for financial reporting?
The statute that governs how organisations prepare their financial statements is known as Generally Accepted Accounting Principles (GAAP) . In most countries, GAAP comprises the accounting standards laid down by the national accounting regulator and relevant local company law.
