Regulation (noun)

1. An official rule or law that controls or directs something.
2. An action or procedure that is prescribed by an authority.
3. The process of controlling or directing something according to a rule or set of rules.

Origin:

Late middle english: from latin regulatio(n-), from regulare "make regular", from regula "rule".

Examples:

1. The new regulation will take effect next month.
2. The company is in compliance with regulations.
3. The new regulations will affect the industry.
4. The regulation of the market is necessary.
5. The regulation of the internet is a complex issue.