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State the term delegated legislation.
Delegated legislation:
Parliament sometimes provides the capability to legislate to other bodies as like regional parliaments and government departments, emergency laws and local authorities (Orders in Council) approved through the Privy Council.
Parliament does use control over delegated legislation through supervising these bodies and has the also right to take away such powers must they be abused. Moreover, the courts can assist and hold any bye laws or regulations passed through these bodies like outside the scope of powers specified (ultra virus) must they be abused.
Prospectus Issue: Under a prospectus issue the company sells the shares directly to the public rather than selling them through intermediaries.
Provisions Which Prevent Capital Going Out Of The Company: In Trevor v Whitworth (1887) Lord Watson stated: "Paid-up capital may be diminished or lost in the course of the
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