Rules, Rights and Justice Essay Example | Topics and Well Written Essays - 2500 words

Rules, Rights and Justice - Essay Example Parliament is normally influenced by public opinion and social changes into making laws through Acts of parliament. There are various origins of Acts of parliament, which are caused by the variations in public and social opinions. Consequently various Acts of parliament are enacted, laws established to ensure a peaceful cohabitation of the people with its environs. Most of these will be addressed in this paper to find out the numerous ways the public can affect establishment of laws. Origin of Acts of Parliament There are different origins of Acts of parliament in England and Wales. Some of these include; national emergency crisis, manifestos of parties, the law commission, royal commission and the private members bills. The party manifestos refer to those lists of reforms promised by political parties when there is a general election. They do guarantee they would implement if they are elected into parliament. In other terms, party manifestos are simply pre-election promises. The Act s of parliament may be obtained from the pre-election promises on which the elected government made to the public (Block 2, 2012; p. 93). Nationwide emergency, crisis or fresh developments which arise during the reign of a government might force the parliament to establish an Act to deal with the crisis. For instance, the Anti-Terrorism, crime and Security Act 2001 was brought up to respond to the latest circumstances concerning the terror attack on September 11, 2001 in New York and Washington. The main objective of the 2001 Act was to cut down on financing for the terror groups, ensuring the departments and agencies in the government had authority to gather and share important information needed to deal with terror threats. In addition, the 2001 Act had the aim of expanding police jurisdiction and accessibility to appropriate forces and pass on to UK’s anti-terror authority (Block 2, 2012; p. 95). The royal commissions at times submit their report to the parliament with rec ommendations for laws which may be assumed as part of the government lawmaking process. Royal Commissions are recommended committees enacted by the State even though officially selected by the Crown. The commission conducts an investigation for any subject the government might see fit to refer to. These are normally used for political issues that are not related to any party or for matters the government deems to be perceived as addressing in a non-party political manner (Block 2, 2012; p. 101). A recommendation from the law commission is also another source of Parliamentary Acts. The main aim of creating the law commission was to establish recommendations concerning any subject of the law that the commission might feel necessary to have reforms. Thus the commission is mandated with the accountability of keeping all the regulations under the review with the objective of reform and development. The work of the commission is wide-ranging in the sense that it proposes the changes to th e law inclusive of the necessary reforms. The private member bills are also another source of the Acts of parliament. This is a situation where the individual members of parliament are able to initiate their own laws otherwise known as the Private Member’s Bill. One good example of the successful private member’s Bill which was signed into legislation is the Marriage Act 1994. This was initiated by Gyles Brandreth, Chester’

CAPM and the use of it Essay Example | Topics and Well Written Essays - 1500 words - 1

CAPM and the use of it - Essay Example CAPM is popular because of its simplicity and utility at various problems. CAPM is used to quantify the risk associated with the assets and then translate it into the returns associated with the securities (Mullins 2012). CAPM is actually used to make calculations of a single security. The formula is very simple which is used in calculations. It includes the expected return on the capital assets, risk free rate of interest, market risk which is denoted by beta, market premium and the risk premium. Now the description of all of these components is given as follow; Here beta or the market risk is very important. Every company also has its own beta value which is useful for every type of calculations. A specific company’s beta value means the risk associated with the company but in comparison with the whole operational market. But when we talk about beta in capital asset pricing model i.e. CAPM then it means the market risk which any company must face during their cost and return calculations. By definition the value of beta is equal to 1.0. The application of CAPM gives its best results when all of the above assumptions are met in an appropriate environment. These assumptions are made regarding a generalized conditional environment. Whenever any specific different situation may come and the investor may feel any difficulty then the researchers start their duty and find any other way to solve the problem. Therefore we may see certain modified versions of theories and models. The basic theme and assumptions of these theories and models is same only the operational side may be modified according to the situations. Some critics are of the opinion that CAPM assumptions are totally unrealistic, but still there are many supporters of this model of capital asset pricing model. From the very beginning (i.e. just after introducing CAPM), the