HOW DOES STATUTE LAW IMPORTANT IN REGULATING SOCIO-ECONOMIC

ACTIVITIES IN MALAWI

Statute law plays a crucial role in regulating various socio economic activities in Malawi as it
does in other countries. Statute law is a law that is written and passed by parliament that
governs the legal entities. There are many definition of statute law but the basic concept is
that statute law is a written law produced by a parliament which originates from decision
made in courts and the country’s written constitution. Statute law is the highest type of law
which passes acts onto the houses of parliament where they debate whether the act should
exist or not. Statute law is also known as legislation law.

Statute law has been formally codified by legislative, usually parliament. Statute law is
enacted by the parliament that comes with much control over the socio-economic activities in
Malawi.

(Thompson, 2002), a statute law is a formal written enactment of a legislative authority that
governs legal entities of a city, state or a country by the consent. Typically, statute law
command or prohibit something or declares policy. Statute are rules made by the legislative
bodies; they are distinguished from case law or precedent and regulate issued by government
policies.

Statute law begins with a bill proposed or sponsored by a legislative. If the bill services the
legislative committee process and is approved by both houses of the legislature, the bill
becomes law when is signed by the executive officer (the president on the federal level or the
governor on the state level). When a bill becomes law, the various provision on the bill are
called statutes. State and federal are compiled in statutory codes that group the statutes by
subjects.

Stature law plays a big role in regulating the socio-economic activities in Malawi it also
shapens the socio-economic activities. Statute law is important in the following way that
help in regulating the socio-economic activities in Malawi, the first important is it a legal
certainty and predictability. It also protect the individual rights of people ( e.g people who are
working in company, etc). It also protect the rights of consumers. Statute law also regulate
the business practices. Statute law also promote the economic development of the city or the
country. Because of statute law there is justice in so many aspect like minning, working
place. There is also social equity because statute law. Statute law also regulate in promoting
peace in various organisation and industries. Statute law is important in protecting
environment and sustainable developments. Also statute law help in public health and safety
protection. Statute law is important is so many ways that help in regulating the socio-
economic activities in Malawi.

Statute law provides legal framework for conducting economic activities in Malawi. Legal
framework is important in a way that, it help raise visibility of the expansion of social and
solidarity economy(SSE) alse it support them to enter new markets so statute or legislation
law provides or defines rules and regulation that every person involved in economic activity
such as trade, commerce, and industry must follow when enganging. The legal framework is
important in the sense that, it promote economic stability and growth yhat ensures fair
competition and protect the interest of stakeholders.

Consumer protection. Consumer protection is the practice of safeguarding buyers of goods

ans services, and the public unfair practices in the markert place. Consumer protection
measures are often established by law. In Malawi statute law have laws and regulation which
protect and safeguard the interest of consumers these laws are such as product quantity,
pricing, advertising, and warranties.

An Act to protect the rights of consumers, address the interests and needs of consumers,
establish a Consumer Protection Council, provide an effective redress mechanisms for
consumer claims and provide for other matters incidental thereto or connected therewith.

This Act provides for the protection of (rights of) consumers and establishes for this and
other purposes the Consumer Protection Council. The Council, which shall be a body
corporate, shall, among other things: coordinate, monitor and promote the activities of
consumer organizations; create or facilitate the establishment of conflict resolution
mechanisms on consumer issues; investigate any complaint received regarding consumer
protection, and where appropriate, refer the complaint to a competent authority and ensure
that action is taken by the competent authority to whom the complaint has been referred;
advocate for the effective implementation of this Act and any other written law affecting
consumers; maintain a complaints register; and formulate and submit to the Minister, policy
and legislative proposals in the interest of consumers.

The Act also sets out general rules regarding advertisement and labelling of goods, including
warnings health and environment hazards, and defines measures for consumer redress,
including class action.