Report of the Committee for Reforming the Regulatory Environment ...

e approached by persons who are not clear about theapplicability of a particular regulation, or a set ofregulations to an activity, which they intend toundertake. In order to infuse confidence in theregulated universe, it is necessarythat every organisation taskedwith the writing of regulationsshould have a provision for anadvance authority for rulings sothat potential transgressions canIt is necessary thatevery organisationtasked with thewriting of regulationsshould have aprovision for anadvance authority forrulingsbe avoided and business ventures can be undertakenwithout a lingering doubt about the legality of anyaspect of the proposed venture. The system ofinformed guidance, being not of a binding nature is apoor substitute and should be done away with. Thesetting up of an Advance Authority for Rulings is byitself not a complete solution. It should be incumbenton the Authority to give an opinion on the issue raisedbefore it within a prescribed time. It should also beincumbent on the authority to give a clear indication ofits view on the issue in question without prevarication42