The legislation refers to a law that has been enacted and placed by the legislative arm of a government or other governing body on organizations, industries, and people that live in a country. Legislations are made to guide people as they go about their activities in the country.
Legislations are made for the industry so as to make all the key players comply with the government. On the other hand, regulation refers to a specific administrative rule of law issued by a governing body in which all members of the body are expected to follow.
Also, the act of enforcing all these rules and laws by regulators is also known as regulation. Regulation is narrower in its scope compared to legislation, which is a little bit wide. Legislations are usually made by the legislative arm of a government, while regulations can be made either by the government or other administrative bodies.