UNDERSTANDING THE PRINCIPLE OF PROSPECTIVE OPERATION OF STATUTES
The principle of prospective operation of statutes is a fundamental aspect of legal interpretation that is crucial to upholding the rights of individuals, and it is essential for legal practitioners, business leaders, and the individuals to understand its implications. The settled rule of interpretation is that any amendment to a statute that affects the legal rights of an individual must be presumed to be prospective, unless it is expressly or impliedly retrospective. This principle is fundamental to the interpretation of all legislation and ensures that the rights of individuals are protected under the law. When a repeal of an enactment is followed by a fresh legislation, such legislation does not affect the substantive rights of the parties on the date of the suit or adjudication of the suit, unless it is retrospective. This means that a court of appeal cannot take into consideration a new law brought into existence after the judgment appealed from has been rendered, as the righ...