How can regulation be defined?

Regulation is best defined as a rule created by the government interpreting a statute. This definition captures how regulations function as detailed rules or guidelines that are established by governmental bodies to implement and enforce laws passed by legislative bodies. Regulations serve to clarify the intentions behind legislation, ensuring that the law is applied consistently and effectively in specific contexts.

In this framework, regulations often provide the necessary details that laws lack, allowing for practical enforcement and compliance within various sectors, including finance, environmental protection, and business operations. They are crafted through a formal process that typically involves stakeholder input, research, and analysis, reflecting the government's intent to manage or guide behaviors in a way that aligns with public policy objectives.

The other options do not accurately capture the essence of what regulation is. While community consensus and informal guidelines may influence behavior in a broader sense, they lack the formal authority that regulations possess. Similarly, while restrictions may be a component of some regulations, they do not encompass the entirety of what regulations are meant to represent, which includes guiding actions and setting standards rather than just imposing limitations.