Statutory Requirements - 7.3.2 - Applicable statutory and regulatory requirements

R

rui12524

#1
Statutory requirements

Hello,

In 7.3.2 it says "applicable statutory and regulatory requirements"; being in the plastics industry, the regulatory requirements are mainly on the raw material; What I can't seem to understand is what's the meaning of statutory requirements: and auditor told me that these requirements were in the statutes of my company?! BUT, I’ve read something a little bit different in books... ex: power supply ratings is considered a statutory requirement for an electrical product to be sold in different countries... can anybody give me a hint?
:eek:
 
Elsmar Forum Sponsor
#2
There is a fine line between statutory and regulatory. Statutory refers to those things that required by law (think things you could go to jail for). Regulatory are those things that are regulated. Environmenal law (statutory) says you cannot pollute. However, air emissions (a form of pollution) permits may allow you to emit certain levels of various chemicals.

In almost every case I've seen the two are handled the same way. That might not be much help, but perhaps someone can add to it.
 
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