regulation

regulation
   The principle of regulation in Britain combines constitutionalism and privatization. The constitutional principle, that of the rule of law, is at its weakest in institutions in civil society and in state institutions based on the power of royal prerogative. Formal institutions of regulation have been designed to cover some cases. These are generally monopolistic state utilities transferred to the private sector. Regulators covering gas, telecommunications and numerous others now control both the practice and pricing of monopolistic utilities. The transparency that such regulation has engendered is leading to a regulation regime that has begun to feed back into all areas of public life. Once regulation and transparency have been invoked, it is unclear that any private or public body, including parliament, should be considered exempt. The Nolan Committee on Standards in Public Life, and the appointment of a parliamentary commissioner to oversee such standards, are parts of a massive sea-change in the way in which institutions are increasingly held accountable to transparent principles. This is a ‘quiet’ revolution, but a revolution it is nonetheless.
   See also: regulatory bodies
   PAUL BARRY CLARKE

Encyclopedia of contemporary British culture . . 2014.

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