Another key element in the development of a strong knowledge economy is a clear and consistent regulatory framework. This must be provided to encourage the growth of knowledge enterprises and protect the rights of intellectual property holders and consumers. What must be avoided is over-regulation leading to new barriers for business. These have been the principles behind recent legislation such as the Electronic Commerce Act, 2000, which gives legal validity to electronic signatures and documents, and the Copyright Act, 2000, which brought Irish law on copyright into line with EU and international law in this area. In addition, the recent Communications Regulation Act, 2002, provides, inter alia, for the establishment of a new Commission for Communications Regulation to replace the Office of the Director of Telecommunications Regulation and the updating of our regulatory framework to take account of developments at EU level.