The term statutory interpretation refers to the action of a court in trying to understand and explaining the meaning of a piece of legislation. Many cases go to appeal on a point of interpretation.

Indeed, Lord Hailsham, a senior English judge, once said that "probably 9 out 10 cases heard by the Court of Appeal and the House of Lords turn upon or involve the meaning of words contained in statute or second legislation."

In light of the above statement, critically discuss with examples the term statutory interpretation, the various approaches and its importance.