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Commonly Asked Questions about Statutory Legal Documents

The basic definition is that a statutory record is any information or document that a person is required to keep and preserve under or by virtue of any enactment relating to a tax. Thus, for example, an individual liable to income tax will be subject to TMA 1970, s.
Statutory laws are written laws that are enacted by an legislative body. Statutory laws differ from regulatory, administrative, and common law. Regulatory or administrative laws are passed by executive agencies. Common law is generated through court decisions.
While the Constitution applies to government action, statutes apply to and regulate individual or private action. A statute is a written (and published) law that can be enacted in one of two ways. Most statutes are written and voted into law by the legislative branch of government.
Examples of statutory laws include traffic laws like driving on a suspended license, drug laws like those regarding drug possession, etc. Unlike common law, statutory law is codified and encompasses compiled legislation that has been passed on a local, state, or federal level.
Statutes are the laws passed by the legislative branch of government and signed into law by the chief executive (president (for federal statutes) or governor (for state statutes)).
It refers to an act that is considered illegal and punishable by law. This includes actions that violate a legal duty and are subject to criminal proceedings. For example, theft, assault, and murder are all examples of statutory crimes.
Statutory law refers to written laws enacted by the federal or state legislature. For example, the Nurse Practice Act in each state is an example of statutory law enacted by that states legislature. The Health Insurance Portability and Accountability Act (HIPAA) is an example of a federal statutory law.