The golden rule in statutory interpretation allows words to be given their plain, ordinary meaning unless such an interpretation would produce an absurd result. This rule serves as a modification of the literal rule to avoid outcomes that Parliament could not have intended. The mischief rule and purposive approach are alternative methods of interpretation focusing on the legislative intent and purpose behind the statute.

Key Point: The golden rule provides flexibility in statutory interpretation, balancing the need for clear language with the avoidance of unreasonable outcomes.