What role does regulation play in legislation?

The role of regulation in legislation is fundamental as it ensures that laws are implemented effectively and appropriately. Regulations are essentially the rules or guidelines that emerge from legislation, providing the framework and detailed instructions necessary for the law to be executed in practice. This involves specifying how the law will operate, the processes involved, and the responsibilities of various stakeholders.

By providing a structure for the implementation of laws, regulation ensures consistency and compliance, which is crucial for achieving the intended outcomes of legislation. Without regulation, legislation might remain abstract and unenforceable, leading to a gap between what is legislated and actual practices within markets or sectors.

Regulation plays a critical part in adapting legislative intent to real-world applications, which helps maintain market order, protect consumers, and ensure fair competition. In this way, it acts as a bridge between the legislative framework and practical enforcement, ultimately guiding the behavior of entities subject to the law.