STEEPLE - Legal factors

Question 1

what is national minimum wage?

Answer 1

minimum pay per hour workers of school leaving age are entitled to by law and is reviewed yearly by the government

Question 2

what are some consequences of not following minimum wage?

Answer 2

• businesses can be fined for any breaches of civil law
• they also have to reimburse any underpayments

Question 3

why should businesses follow national minimum wage?

Answer 3

Avoid bad publicity (which could deter future employees and customers from the business)

Question 4

what is the effect of an increase in national wage on a business?

Answer 4

it can significantly increase a business’ total wage bill

Question 5

what are the sections of the consumer rights act 2015?

Answer 5

• goods must fit their description
• goods and services must be of satisfactory quality
• goods must be fit for the purpose specified

Question 6

what is a consumers’ rights within 30 days of a purchase?

Answer 6

repair, exchange or refund

Question 7

what is a consumers’ rights after 30 days of a purchase?

Answer 7

repair, exchange or partial refund

Question 8

what are the impacts to a business of failing to comply with Consumer Rights Act 2015?

Answer 8

• customer complaints ⇨ lose customers
• cost of refund/repairs/exchange
• fine (significant issues only)
• bad reputations ⇨ lose sales

Question 9

what can businesses do to avoid breaching the CRA 2015?

Answer 9

• take care with descriptions - be precise, show photos and videos, etc
• update descriptions regularly
• methods of ensuring quality e.g. better suppliers, packaging, etc
• test products - ensure they’re satisfactory
• train staff on consumer rights

Question 10

what is intellectual property?

Answer 10

intangible property that is the result of creativity e.g. logos, slogans, melody

Question 11

what is a trademark?

Answer 11

a company can register a trade mark for its business name, slogan, logo, and other items that essentially brands the product/company

Question 12

what happens if a trademark is breached?

Answer 12

the business that breaches the trademark will have to pay damages

Question 13

what is a contract and what is contract law?

Answer 13

a legally binding agreement between two or more parties
it is against the law for one of the parties to not follow something from the contract e.g. delivery days

Question 14

what is the consequence for breaching contract law?

Answer 14

fines, lawsuits, and damage recovery (e.g. compensation)

Question 15

what is the purpose of contract law?

Answer 15

set out the basic framework of rights and obligations of a contract

Question 16

what is the weights and measures act?

Answer 16

it states how it is an offence to give short measures or an incorrect indication of the amount of a product on sale

Question 17

what is the consequence for breaching the WaMA?

Answer 17

fine up to £400, or lawsuits

Question 18

what is the purpose of the WaMA?

Answer 18

ensures consumers are getting the right amount of product that they paid for

Question 19

what is the data protection act?

Answer 19

controls how personal information of people is stored and used by a business

Question 20

what is the consequence for breaching the DPA?

Answer 20

fines up to £500,000

Question 21

what is the purpose of the DPA?

Answer 21

protect customers/employees personal data and consequently protect them from harm if their personal data leaks

Question 22

what is the smoking in the workplace act?

Answer 22

act bans people smoking in offices, factories, shops, bars, restaurants and work vehicles
smoking can only be done outside

Question 23

what is the consequence for breaching the SitWA?

Answer 23

fines up to £200, or up to £50 in Scotland

Question 24

what is the purpose of the SitWA?

Answer 24

reduce the risk to health of employees from smoke and to protect the workplace from getting polluted with smoke

Question 25

what is the health and safety act?

Answer 25

the act regulates workplace health, safety and welfare by taking into account new issues and hazards in the workplace

Question 26

what is the consequence for not following the HaSA?

Answer 26

fine or disqualification of owners/employees

Question 27

what is the purpose of the HaSA?

Answer 27

it ensures employees stay safe when at work and ensures no one can sue the business

Question 28

what is copyright?

Answer 28

legal protection against copying for authors, composers, and artists e.g., songs, movies, books, etc
it is an automatic rights that happens as soon as it is published

Question 29

what is planning permission?

Answer 29

refers to approval from the local council needed for construction or expansion, and sometimes for demolition. It’s usually given in the form of a permit

Question 30

why does planning permission exist?

Answer 30

to ensure all stakeholders are happy with the proposed construction. Without it, people would be building all the time

Question 31

how does planning permission apply to business?

Answer 31

most work on land or buildings, as well as many changes of use to business premises, needs planning permission

Question 32

what happens if you build without planning permission?

Answer 32

the new building may be demolished

Question 33

what is the clean air act?

Answer 33

it gave local authorities the power to control emissions of smoke, grit, dust and fumes from industrial premises and furnaces, and set up smoke control zones. The main principle is to protect the environment from lethal fumes which speed up global warming

Question 34

what are the impacts of poor air quality?

Answer 34

• causes development problems for children
• increases diseases which affects workers’ ability to work

Question 35

what are the main principles of the Climate Change Act?

Answer 35

the act aimed to reduce emission targets from 80% to net zero by 2050

Question 36

how can the target be achieved?

Answer 36

• using LED lightbulbs
• hydrogen central heating instead of gas
• clamp down on meat

Question 37

define anti-money laundering

Answer 37

refers to the activities financial institutions perform to achieve compliance with legal requirements to actively monitor for and report suspicious activities

Question 38

who do criminals aim to deceive when laundering money?

Answer 38

trusted professionals e.g. solicitors

Question 39

why should professionals who are targeted comply with anti-money laundering legislation?

Answer 39

stop furthering criminal activities

Question 40

who should suspicious activities be reported to?

Answer 40

MLRO - Money Laundering Reporting Officer

Question 41

what is the purpose of anti-money laundering legislation?

Answer 41

• stop the source of crime and prevent further activity and bring them to justice

Question 42

what is bribery?

Answer 42

the act of promising, giving, receiving, or agreeing to receive money or some other item of value with a corrupt aim

Question 43

what are some examples of bribery?

Answer 43

to offer, promise, give, request, agree, receive or accept bribes

Question 44

what does financial legislation exist to do?

Answer 44

• encourage professionals to report suspicious activities or unknown wrong doing (anti-money laundering)
• to promote fairness and prevent businesses gaining unfair advantages (anti-bribery)