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The two main UK regulators are the Prudential Regulation Authority and the Financial Conduct Authority. Once a bank has received authorisation in the UK, or another member state, it may operate throughout the EU under the terms of the host state's rules: it has a "passport" giving it freedom of establishment in the internal market.
For example, a government may make a policy decision to raise taxes, in hopes of increasing overall tax revenue. Depending on the size of the tax increase, this may have the overall effect of reducing tax revenue by causing capital flight or by creating a rate so high that citizens are deterred from earning the money that is taxed.
Within government, the Treasury and other departments with an interest will be consulted along with the devolved administrations in Scotland, Wales and Northern Ireland. Outside government, interested parties such as trade unions, industry bodies and pressure groups will be asked for their views on any proposals. The Cabinet Office Code of ...
The British monarchy retains responsibility for defence, citizenship law, and foreign affairs of the dependencies, and has delegated these responsibilities to the UK government and Parliament. The UK parliament generally acts in consultation or gains the consent of the local government when passing laws that have effect in the dependencies.
Allan thus supports the idea that there are core features of the rule of law, including government acting within its legal authority. [10] Noting that this is not incompatible with wide discretionary powers on the part of the government, Allan accepts that too wide a definition of the rule of law is to expound a complete social philosophy. [11]
This would be the case if the Government attempts to use delegated legislation for a purpose not envisioned by the parent Act, or if the legislation is an unreasonable use of the power conferred by the Act, or if pre-conditions imposed by the Act (for example, consultation with certain organisations) have not been satisfied.
United Kingdom administrative law is part of UK constitutional law that is designed through judicial review to hold executive power and public bodies accountable under the law. A person can apply to the High Court to challenge a public body's decision if they have a "sufficient interest", [ 1 ] within three months of the grounds of the cause of ...
Derek J Way. The Student's Guide to Law Libraries. Oyez Publications. 1967. Pages 15 to 17. D J Way, "The Lawyer in the Library: A Short Account of English Legal Literature" (1961) 63 Library Association Record 236 at 237 (No 7, July 1961) "Books of the Month" (1964) 9 The Journal of the Law Society of Scotland 181; Peter Meijes Tiersma.