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Regulatory capture is the process through which a regulatory agency, created to act in the public interest, instead advances the commercial or special concerns of interest groups that dominate the industry it is meant to regulate. [2]
Regulation of tobacco and tobacco products is vested with the Food and Drugs Administration (FDA), by way of Republic Act No. 9711 and its implementing rules and regulations (IRR). RA 9711 states that the FDA has the authority to “develop and issue standards and appropriate authorizations that would cover establishments, facilities and health ...
Economic law is a set of legal rules for regulating economic activity. [ 1 ] [ 2 ] Economics can be defined as "a social science concerned with the production, distribution, and consumption of goods and services."
For example, in the US, some regulators who are tasked with implementing CAC techniques are given rule-making powers. Whereas in the UK, regulatory standards are more commonly set by departments of government. This is achieved through both primary and secondary legislation which is subsequently exacted by regulatory bureaucracies. [2]
Economics of regulation is included in the JEL classification codes as JEL: K2, L51 Wikimedia Commons has media related to Economics of regulation . The main article for this category is Regulatory economics .
Regulation 1/2003 - Council Regulation (EC) No 1/2003 of 16 December 2002 on the implementation of the rules on competition laid down in Articles 81 and 82 of the Treaty (OJ L1, 4.1.03), the so-called "Modernisation Regulation". This regulation requires the designated national competition authorities of the Member States (NCAs) and the courts ...
The New Government Procurement Act of 2024, officially designated as Republic Act No. 12009, is a Philippine law which prescribes the necessary rules to address the lack of transparency and competition in government procurement, eliminate collusion and interference, and lessen the delay in the procurement process by creating the Government Procurement Policy Board (GPPB) and PhilGEPs.
Regulations' effects on the economic environment for competition also concerned President George H. W. Bush, whose 1992 message in the annual small business report noted: "My Administration this year instituted a moratorium on new federal regulations to give federal agencies a chance to review and revise their rules. And we are looking at ways ...