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What is the difference between a Act and Statutory instrument?
An Act of Parliament is substantive legislation whereas a Statutory Instrument is subsidiary or delegated legislation.
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Answer: legal and statutory reserves There is no difference. Bothlegal and statutory reserves are reserves that must be maintainedby law. The previous answer ("Legal reserves …are stipulated by law,while statutory reserves are determined in the Articles ofAssociation (the Statute of a company)") is incorrect: the primarymeaning of 'statutes' is 'enacted laws'
Statutory law is found in code books of the state or the federalgovernment. Regulatory law is often found in agency rules.
Statutory refers to laws passed by the state of federal government. Regulatory means a rule issued by some agency that the government has given authority to regulate an indust…ry.
Constitutional law sets forth the limitations of government, and ensures the inalienable rights of human beings. It is the only law that free men and women are obligated to f…ollow. Statutory law establishes unconstitutional restrictions and illegal government control on people who don't realize that they only have to follow these laws because they fail to enact their constitutional rights. Statutory law also forces otherwise wise men and women to comply in order to take many jobs, or to conduct what should by rights be free trade.
A statutory body deals with written law; non-statutory deals withimplied law.
statutory book Requires under the Companies Act 1956, the company must keep and maintain the statutory books of the registered company. which it includes any register or oth…er record of information and any accounts or accounting records, and any document however complied, recorded or stored. The director and secretaries are responsible in ensuring that requirements of the Act in relation to the statutory books are complied with and take all proper steps to prevent falsification of the books. The company must provide facilities for inspection of the register. The statutory books of the company are: Â· The Register of Members (Section 158) Â· The Register of Director, Managers and Secretaries (Section 141) Â· The Register of Debenture Holders (Section 70) Â· The Register of Substantial Shareholders (Section 69L) - for public companies only Â· The Register if Directors' Shareholding, Debenture and Interests (Section 134) Â· The Register of Charges (Section 156) Â· Minutes books (Section 56) Â· Books of accounts (Section 167) non-statutory book non-statutory books which books are usually maintained by companies like: Â· Register of Transfers Â· Register of Allotment and Application of Shares Â· Register of Documents Sealed/ Seal Book Â· Register of Important Documents (Licenses, certificate, leases etc.)
A "statute" refers to a codified law. A "statutory instrument" is a document that derives its power or authority from a statute.
Organizations must comply with statutory requirements by law.Whereas regulatory requirements may or may not have been legallyset forth. They are generally used to manage or co…ntrol anactivity.
one is and one isnt
Statutory means by statute. A statute is a law which is written down.. Mandatory means you must. A statute make make certain behaviours mandatory, such as stopping for red li…ghts. A court may also make mandatory orders on its own initiative, such as ordering you to complete your end of a contract.. Bear in mind this advice applies to common law countries only. The words may have different meanings in other jurisdictions.
Fundamental law is the law determining the constitution of thegovernment of a state, while statutory law is the body of lawscreated by legislative statutes.
An Internal audit is performed by employees of your own company, usually by employees who are subject matter experts. Internal audit results are usually taken under consider…ation by management and improvements are made by the company in order to avoid an external audit finding which may result in the risk of citation or fine. An external statutory audit would be performed by and auditor who is employed by the government (local, state, or federal). The external auditors findings are legal and binding and may lead to citations or fines or both.
what is the difference between statutory audit and non statutory audit.
Statutory laws are created by governmental bodies and are enforced by government. They are written and have a formal process for change. Ethical and moral laws are not crea…ted by government; they are created by social institutions. They are not enforced by law, if at all. They are not always clear and are not always agreed upon. They can be changed by prevailing sentiment among religious and social leaders including media. There can be some overlap as many statutory laws seek in some way to preserve or extend moral and ethical laws. Many of these laws have been removed or struck down by courts in recent years. For example, in one town the first criminal case was a man fined $50 for having sex with a woman (both were unmarried). The law was a commonplace feature of statutory laws in most states and cities, but such laws have nearly all disappeared today. Sometimes statutory laws are seen to conflict with ethical and moral laws, at least in the view of some people. A law in Massachusetts made it illegal to fire a gun at someone in your home even if your life was in danger, if there was any possibility of running away. A widow with small children was sentenced to a year in jail for shooting a burglar (who had a knife) in her own home. The law seems to conflict with the moral and ethical need to defend one's children and home. (The law was later repealed).
The difference between statutory and non statutory rights is that one is supplied by the government and the other one isn't. Statutory rights are bestowed by particular govern…ment to governed people and are relative to specific cultures and governments
Statutory valuation = this is a product of an act of law, I.e when a statute is specify the method that should be adopted in determining the value required for instance the la…nd use decree in section 29 specify the method to be adopted in carrying out valuation for compensation so also in carrying out valuation for taxation. The various statutes concern, specify or indicate the method to be used. While non-statutory or natural valuation = are those arriving from a natural event. Which ever case, the valuer is also concern with the market value of the property. These includes valuation for sales, purchase, rentals mortgage etc.