Document Type : Article
Authors
1 PhD Student in Oil and Gas Law, Faculty of Law, University of Shahid Beheshti, Tehran, Iran
2 Prof, Department of Law, Faculty of Law, university of Shahid Beheshti, Tehran, Iran
Abstract
In modern governance regulation falls under the category of emerging and challenging phenomena, and there are significant gaps in its principles. Moving away from the notion of large government versus small government, a new governance approach known as the “regulatory state” has emerged. In this paradigm, regulatory institutions are established with the aim of achieving public good and have begun to regulate, supervise, and manage affairs using tools provided by law. As a result, the regulated entities—referred to as "subjects of regulation"—are directly affected, while the government and the public are indirectly influenced by the decisions of regulatory institutions. The research question is whether regulatory institutions can be held legally responsible if they cause harm to related and affected individuals due to their failure to fulfill their legal duties, or whether they are exempt from responsibility due to the nature of their sovereign actions? The reasons, findings, and evidence presented in this research indicate that such liability should exist for regulatory institutions, compelling them to compensate for damages. The paper also discusses potential remedies for damages resulting from the actions of these regulatory institutions.
Keywords
Main Subjects
English
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