Dear All, What is the difference between statutory and regulatory requirements? Can any one provide examples also. regards, Narayan nariy@rediffmail.com
From India, Hyderabad
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74From India, Hyderabad
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Statute = A law. Regulation = Control of practices (to stay within a law). Let's say the law says you can't kill your employees (seems reasonable). The regulation may require you to inform employees about hazards they may face.
From India, Panipat
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From India, Panipat
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Difference Between Statutory and Regulatory Requirements
Insofar as it relates to employment in industry, statutory means that which is directed under law, and regulatory pertains to the procedures to enforce such law and is laid down by the rules framed by the government.
For example, while Sec. 79 of the Factories Act directs that workers shall be granted annual leave at the rate of one day for every 20 days of work, the procedure for implementing this direction is stipulated under rules which prescribe a leave register in the prescribed format, etc., with details like the name of the employee, the details of working days, details of layoff or leave availed, etc., in order to arrive at the number of leave days to be credited. This procedural part belongs to the regulatory mechanism, which is supervised by the Inspector of Factories appointed for this purpose under the Act. The same is the case with various other safety and health provisions.
This is my understanding.
Regards,
B. Saikumar
HR & Labour Law Advisor
Mumbai
From India, Mumbai
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Insofar as it relates to employment in industry, statutory means that which is directed under law, and regulatory pertains to the procedures to enforce such law and is laid down by the rules framed by the government.
For example, while Sec. 79 of the Factories Act directs that workers shall be granted annual leave at the rate of one day for every 20 days of work, the procedure for implementing this direction is stipulated under rules which prescribe a leave register in the prescribed format, etc., with details like the name of the employee, the details of working days, details of layoff or leave availed, etc., in order to arrive at the number of leave days to be credited. This procedural part belongs to the regulatory mechanism, which is supervised by the Inspector of Factories appointed for this purpose under the Act. The same is the case with various other safety and health provisions.
This is my understanding.
Regards,
B. Saikumar
HR & Labour Law Advisor
Mumbai
From India, Mumbai
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What I understand is that a statute means law. Statutory refers to something of law or created by law, which is passed by an act of parliament through the legislative body and is mandatory to be followed upon its application. On the other hand, regulatory is a process to control or direct according to rule, principle, or law required to implement a statute.
In my opinion, the Factory Act is a statute or law, whereas the rules framed under the Factory Act by the respective state governments are regulations to implement the provisions framed in the Factory Act. The labor department is a regulating body accountable for the implementation of the statutes.
Regards,
BS Kalsi
Member since Aug 2011
From India, Mumbai
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In my opinion, the Factory Act is a statute or law, whereas the rules framed under the Factory Act by the respective state governments are regulations to implement the provisions framed in the Factory Act. The labor department is a regulating body accountable for the implementation of the statutes.
Regards,
BS Kalsi
Member since Aug 2011
From India, Mumbai
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Statutory Compliance of a Industrial or Commercial Unit.xls
Statutory-compl iance.pdf
Statutory Compliance.zip