Akademik

statutory
statutory stat‧u‧to‧ry [ˈstætʆtri ǁ -tɔːri] adjective LAW
fixed or controlled by law:

• Some trustees have special statutory powers of investment.

• This statement does not affect the statutory rights of the consumer.

— statutorily adverb :

• a statutorily prescribed procedure

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statutory UK US /ˈstætjətəri/ adjective
LAW decided, controlled, or required by law: »

There is no escape from these charges since they are statutory.

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In France everybody is entitled to a statutory 25 days a year holiday.

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You have no statutory authority to order anybody to make a refund.

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statutory duty/obligations/responsibilities

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When managing agents are dealing with other people's money, it is vital that this is covered by statutory regulation.

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Unions want a statutory right to time off for training.

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The Board of Management will submit the annual statutory accounts.

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The government wants to increase the turnover threshold above which companies are required to have a statutory audit of their annual accounts.

statutorily adverb
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The agency plans to complete all statutorily required inspections by the end of May.


Financial and business terms. 2012.