|to regulate / regulation / deregulation
To regulate is to control something, usually to make sure it’s working correctly, safely or within normal limits. Governments use interest rates as one means to regulate the economy and many laws are intended to regulate people’s behaviour. The noun is ‘regulation’ and the adjective is ‘regulatory’. So a ‘regulatory body’ has powers to control the way one sector of business etc operates. Many countries have reduced or taken away regulation of the economy in order to create a free market – this is called ‘deregulation’. In New Zealand, this process of economic deregulation – especially during the 1980’s – is often called ‘Rogernomics’ after Roger Douglas, the politician who deregulated parts of the New Zealand economy as Minister of Finance in the Labour Government and later went on to found ACT.
Transporting food is one of the most tightly regulated industries.