A recent, and unpredicted, economic downturn led to the government providing significant funding to various national financial institutions in order to prevent a perceived collapse of the UK banking system. In the aftermath, Parliament has produced a new law which will require all banks operating within the UK to have a capital adequacy ratio of 10%, within 90 days of commencement of the legislation. Failure to comply would result in a financial penalty for each month of non-compliance, including up to three months before the legislation came into force, as a deterrent for non-compliance. This is a special measure which has been prioritised by Parliament in order to maintain the orderly functioning of civil society. The legislation is expected to come into force in the coming weeks. A large banking client has approached your firm for advice on the legitimacy of the legislation before it makes an effort to comply. Which of the following best describes the position if it comes before the court?