What is a Statutory Notice?
The world we live in is heavily regulated, and we have seen an increase in monitoring by regulatory bodies to ensure that we are all keeping the rules in our respective industries. A common action taken by regulatory bodies is to issue a statutory notice.
Receiving a statutory notice from a regulatory body can be daunting. These statutory notices are usually requests for information, production of documents, or notices that require some type of remedial work to be performed. However, not all statutory notices are valid, and may exceed the power that the regulator has after a careful review of the provisions of the relevant laws.
Given the remarkable number of laws that these statutory notices may rely on, it is increasingly important to seek advice early so that you can know whether compliance with a notice is necessary, or whether there are grounds to challenge the notice.
Improper non-compliance can have significant consequences and result in further enforcement action, which is why at Small Myers Hughes, we regularly provide assistance to recipients of statutory notices and can implement a response strategy to the statutory notice with you.
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