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Compliance in times of uncertainty – dealing with new and missing regulation

Introduction

One of the key elements of good regulation is to ensure that the regulation is transparent and known to those who it affects and must observe the regulation.  This is the reason why there are procedures in place to ensure that proposed new regulation and changes to regulation are communicated to those affected well in advance to their introduction to allow for proper response to the implementation.

Although the notion that “Ignorance of law is no excuse” does exist, I think that it is accepted by all that reliance on that notion is not advisable and that it is in everyone’s interests for law and regulation to be communicated and understood before it commences.  After all, the aim of law and regulation is not to raise revenue from breaches of an unknown law but to secure the aims of the law and regulation by their observance. More…