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What is red tape?

What is red tape? Here are some definitions.

Noun
  1. The binding tape once used for holding important documents together.
  2. (metonymy) Time-consuming regulations or bureaucratic procedures.
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Examples
In contrast, it plans to cut the amount of red tape covering those products available only to institutional and expert investors.
The theatre's dark today, which is just as well because the police have just cordoned off the top of Roseberry Avenue with red tape.
Without it, red tape will strangle plans for the Queen to unveil the memorial on the eve of the 60th anniversary of VE Day.
Companies generally need to pay expats more than locals and there's a lot more red tape to go through to get them in.
An anemic supply chain, poor infrastructure, and government red tape have kept manufacturers away for years.
The bureaucratic red tape and formalities that one has to go through is the source of frustration to everyone who lives here.

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