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Every country has certain Laws passed in the Parliament or Assembly containing rules etc. which are to be followed by the citizens in the country. The laws are statutory and the applicable rules in the laws must be followed by all the citizens irrespective of theri positions.
T D MOHAN KUMAR
Wiki User
∙ 13y ago
Statutory requirements are important because they are laws enacted by a governing body, such as a legislature, to regulate behavior and establish standards. Compliance with statutory requirements ensures legal obligations are met, promotes uniformity in behavior within society, and helps maintain order and fairness in various fields such as business, healthcare, and environmental protection. Failure to adhere to statutory requirements can result in legal consequences, penalties, and reputational damage.
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What is the statutory definition of a record is documentary materials that meet requirements?
A record is defined as documentary materials that are created, received, maintained, or preserved by an organization in connection with its business activities and are required to be retained for a specific period of time to comply with legal or regulatory requirements.
What does pursuant to statutory law mean?
"Pursuant to statutory law" means in accordance with laws that have been formally enacted by a legislative body. It refers to following the specific regulations and requirements outlined in statutes or laws that have been passed by a governing authority.
Why is statutory law important to politicians?
Statutory law is important to politicians because it provides a framework for governing and enforcing laws in a consistent manner. It outlines the rules and regulations that govern society, helping politicians make decisions that align with legal frameworks and ensuring accountability in governance. Adhering to statutory law also helps maintain order, protect citizens' rights, and uphold the rule of law in a democracy.
What are and what is the difference between statutory and non statutory rights?
Statutory rights are rights that are established by laws or statutes, such as labor laws or consumer protection laws. Non-statutory rights are rights that are not specifically defined by law but may arise from common law principles or agreements between parties. The main difference is that statutory rights are clearly defined by written laws, whereas non-statutory rights rely on other sources for recognition and enforcement.
What is a Non statutory organisation?
A non-statutory organization is a group or entity that is not established or regulated by legislation. These organizations operate independently and are usually formed by individuals with a common interest or goal. Non-statutory organizations do not have legal standing granted by a specific law.
What is statutory requirements of shipboard organization?
what statory requirements
what is statutory requirements?
Requirements that you must have by law to do certain things.
Why statutory audit is requirements?
gordo ;))
What are the statutory requirements for shipboard organization?
The statutory requirements for shipboard organizations include a system of audits and checks. The purpose of this is to make sure that cleanliness and safety are priorities.
What is the difference between statutory and regulatory requirements?
Organizations must comply with statutory requirements by law. Whereas regulatory requirements may or may not have been legally set forth. They are generally used to manage or control an activity.
What are the Various statutory requirements related to labor cost?
Yeah, the various statutory requirements simply relate labor cost. It's always been that way and that's the way it likely enough will stay
What are the grounds for denial in adverse claim?
Not meeting the statutory requirements to prevail in the claim.
What is an illegal eviction?
An illegal eviction is an eviction where the landlord did not follow the state statutory requirements on evictions. Requirements on evictions will vary from state to state.
What is the statutory law in wills?
Depends on the state or country you are in. The statutory law lays out what the requirements are to create a valid will within the jurisdiction in question. In many places it also lays out how the estate is to be distributed if there is no will.
How legal in KY is a will your mother had your sister draw up that does have a notory seal?
If the will meets the statutory requirements for Kentucky, there is no problem with it.
What is statutorily required notice?
Statutory notice is that type of notice of the law or legal requirements imposed upon citizens that is deemed to exist as a result of legislative action. For example, all persons are deemed to have statutory notice of that the fact that murder is an illegal act because it is part of statutory law.
What is statutory report?
Regulatory requirements that mandate reporting of financial and non-financial information to varied government agencies is called statutory reporting. IAS, IFRS, Basel II, and Sarbanes-Oxley are just some of the better-known examples of the regulatory compliance's. Each industry has its own additional set of statutory reporting laws and regulations. Bankers and insurance companies have numerous fiscal filing requirements in each state in which they do business. Publicly held companies have additional sets of SEC reporting requirements that must be met.
