England and Wales

From Wikinvestor

England and Wales is a legal unit within the United Kingdom. It consists of England and Wales, two of the four countries of the United Kingdom. Unlike Scotland and Northern Ireland, Wales follows the legal system known as English law, and the two form the constitutional successor to the former Kingdom of England. England and Wales are therefore treated as a single unit in private international law.

The devolved National Assembly for Wales was created in 1999 by the Parliament of the United Kingdom under the Government of Wales Act 1998 and provides a degree of self-government in Wales, including powers to amend English law from Parliament. These powers were expanded by the Government of Wales Act 2006, and the Welsh Assembly Government can now propose and pass its own laws.