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Timothy Kirkhope, a British member of the committee, said before the vote, "A more principles-based and less prescriptive regulation would have been a better outcome".
A new economic instrument called 'precycling insurance' is proposed, so that decision-making can be led by the market rather than by prescriptive regulation or educational campaigns.
Establishing a clearly limited power to take action against anti-competitive violations, rather than encumbering this vital sector with detailed and prescriptive regulation, is the sensible approach.
In a speech on Thursday at Mansion House outlining the Government's White Paper on banking reform, Mr Osborne is expected to say that prescriptive regulation is not the best way to improve the safety of Britain's banks.
The first measure is more prescriptive regulation with a broader scope.
The second section proposes payments for services as an alternative policy approach to the more traditional instruments of prescriptive regulation and financial penalties.
Similar(49)
But the agency still leans heavily on inspections and prescriptive regulations.
The cars are a combination of fairly prescriptive regulations that have become more prescriptive every year for six seasons.
The independent and Catholic school sectors welcomed the announcement, including the confirmation "prescriptive" regulations would be removed.
Taxes are, in fact, a far cheaper and less coercive way to curtail such behavior than laws or prescriptive regulations.
In 1938, Congress expanded the FTC's authority to cover "unfair and deceptive acts or practices". By 1963, the agency had begun writing prescriptive regulations.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com