Interpretation and Application of Statutory Legislation Essay

Interpretation and Application of Statutory Legislation - Essay Example The statutory legislation that relates to said areas may be raised by the member as private bill shall also require the assent of Royal Queen. The example of this sort of legislation is Interpretation Act 1978 (Slapper & Kelly 89). The courts while deciding the cases of statutory legislation binds to take into consideration the prevalent laws, applicable rules and a set of precedence in similar cases for the purpose of clarity and to identify the loopholes in existing laws. The ambiguous laws need to be addressed by the parliamentarian to streamline in light of the court decision. Many rules are known as collective rules in terms of its statutory interpretation. The competent court of law applies different rules in different scenarios besides the decisions of other courts to decide the matter (Slapper & Kelly 134). The three rules as golden rule, literal rule and the mischief rule are applied by the court to assess the objective of legislation that has passed by the constitutionalist . The golden rule may be used where the literal rule leads to an absurd status. In specific situation courts do not go for interpretation of legislation (Slapper & Kelly 133). Statutes imposing taxation or penalty are subject to detailed assessment to address identified ambiguity for resolution. The statutory interpretation is generally based on three rules as mentioned herein above. Strict application of literal rule in the eyes of judges has no significance. The strict literal interpretation culminates absurdness. The golden rule outside the purview of the act, hence the court can apply mischief rule. However, English courts are more literal in their approach than in most other territorial jurisdictions (Wolfe 69). Mischief rule was favored by the Law Commission in view of the purposive approach to interpret the law. In the larger interest of justice, judges should find out the intention of parliament concerning the purpose of specific legislation. In England, mentioned rules, come to surface 200 years ago. With the assumption of role as law makers by the parliamentarians, the common law and the royal prerogative become in fructuous. Until then, the cour ts regarded statutes as an instrument to plug the holes of the common law. The law makers expect that courts should treat the exact wordings of Acts as the voice of the legislature. Here, we may cite Sussex peerage 1844 case to express the rule. The role of parliament is to enact statutory legislation to address the particular issue, which should not be in conflict of the constitution in force (Morrison 129). The intention of the law makers

Financial Strategy in the Emergent Countries Essay

Financial Strategy in the Emergent Countries - Essay Example Though, despite of vital up to date developments in hypothetical and to some point experiential, phases of the macroeconomics of economical policy, contemporary analyses have until at present failed to address the key issue of what establishes a nation's financial posture. (GREGORY, John Milton, 2008) In an expression, the dilemma is that economists for the majority of the time treat monetary policy as exogenous and deem the legislator to be similar to a programmable mechanism. Awfully there is very little literature available that addresses the issues like: Even very fewer studies have adapted contemporary economical analysis to solicit the category of institutions or lawful arrangements that will assist to sustain financial restraint and uphold stabilization efforts. (GREGORY, John Milton, 2008) The conventional literature on price increases in developing countries had paid attention on three core determinants of inflationary strains which are funds generation, economic imbalances and cost-push fundamentals. (GREGORY, John Milton, 2008) While the primary two aspects have been accentuated by the authors of a monitory influence, cost factors have played a decisive role in the structuralist theories urbanized throughout the 1950s-1960s. (GREGORY, John Milton, 2008) However, the majority of the current researches on price increases and stabilization have reallocated their concentration away from conventional direct economic causes of price increases such as funds creation, in the direction of political along with institutional determinants of inflationary forces. It is necessary for developing economies to focus on the methods like cost-shifting and externalities in array to maintain the pace of GDP growth rate in the times of global recession. (GREGORY, John Milton, 2008) This paper hereby highlights the significance and effects of cost-shifting and externalities in the economies of the developing countries. Cost-Shifting and Its Impacts An imperative characteristic as illustrated in diagram 2.2 is the relation among production and reproduction work in a social order structured around funds and earnings. As reproduction job is unwaged, the capability of viable institutions to valve into it provides growth to the likelihood to save capital and trim down costs. (DAHL, Robert Alan, 1992) It is evident that in this era of globalization the demands for cost reduction and increased efficiency have escalated from business institutions constrain to endure a viable conflict to governmental drive to trim down expenditures in array to struggle with a non-existent price increases. (DAHL, Robert Alan, 1992) There are majorly duo methods to trim down costs: 1. technological change 2. Cost-shifting "Technological change" entails the preamble of latest machinery that boosts labor efficiency and accordingly permits a diminution in unit cost. In a profit-driven civilization, this technological modification usually fallout in an employment affects i.e. amplification in unemployment