Terms

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CS Sumit Jain (Querist)

11 October 2011 Dear All,

Please explain the followings terms and what is the major difference in these.

1.RULES
2.REGULATIONS
3.NOTIFICATION
4.CIRCULAR
5.AMENDMENT

6.PROVISION
7.PROVISO

And which of these is the part of BARE ACT

CS Pawan Kumar Baid

CS Pawan Kumar Baid (Expert)

25 October 2011 RULES are made to provide for a procedure, i.e. how to do a particular task.
REGULATION is similar to rules, but it has more concern with does and donts.

NOTIFICATION AND CIRCULAR are issued by departments (and not Govt) to clarify certain provisions of Act/Rule/Regulation.

AMENDMENT means alteration of Law (ie Act/Rule/Regulation etc)

PROVISION means clauses written in Law

PROVISO are those clauses which are exceptions to general clauses.

PROVISION AND PROVISO are part of bare act.

CS Sumit Jain

CS Sumit Jain (Querist)

07 March 2012 Thanks for Reply Pawan Ji,

can you more elaborate the Term Rules Vs. Regulation and authority whose issued the same.

CS Pawan Kumar Baid

CS Pawan Kumar Baid (Expert)

07 March 2012 See ! rules are made to state some procedure for which government or authority has already allowed.

Regulation requires some control. Like Companies (CG) Rules and Forms - it is rule to provide how to file forms. But SEBI (SAST) Regulation is to control the Acquisition and Takeover.

Usually Acts are made by Govt in parliament, and Regulations are made by any other Authority with sanction of parliament. Rules are made either by authority or by Government.

Regards

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