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About Britain - Laws, Regulations
and Standards
The UK has an unwritten constitution. Law consists of statutes, common
law and case law.
The legal system is characterised by common law tradition with early
Roman and modern continental influences. There is no judicial review
of Acts of Parliament and the UK accepts compulsory ICJ jurisdiction,
with reservations. British courts and legislation are increasingly
subject to review by European Union courts.
All businesses operating in the UK are subject to the laws of the
country in which they operate. The UK has long had a policy of minimising
bureaucracy and deregulating marketplaces in order to generate competition
improve customer services and allow companies with good business models
to develop and expand.
There are nevertheless strict laws governing employment, industrial
emissions, pollution monitoring and control, and waste disposal. A
number of industry sectors require membership of self-regulatory authorities,
such as the Financial Services Authority (FSA) which monitors and
enforces standards within the finance and insurance industries. Financial
transparency is a requirement of limited companies which must submit
independently audited annual reports to the Registry in Britain called
"Companies House". To protect shareholder interests, there are stringent
annual reporting guidelines for publicly limited companies (PLCs).
Further detailed information is offered by UK Trade & Investment,
the Department for Trade and Industry (DTI), the Department for Education
and Skills (DfES), Government Direct for Business in Northern Ireland,
the Scottish Executive, the National Assembly of Wales, and the Confederation
of British Industry (CBI). The 12 regional development agencies also
provide guidance about regional laws, regulations and standards.
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