informal rulemakingnoun: rulemaking by a government agency in accordance with the provisions of section 553 of the Administrative Procedure Act called also notice-and-comment rulemaking compare formal rulemaking Note: Section 553 requires that prior to the promulgation of a proposed rule notice of...
it shows that the market's rule has been taken on by private actors with the assumed implied consent of govern- ments.134 The practice of rulemaking by private actors is very common in small- scale markets and some self-regulatory large-scale markets.135 Most developing countries, however, ar...