For a man to live a Holy life he would have a system of rules and regulations or try to maintain a certain standard of behaviour. He would try to follow a list of do's and don'ts and follow the law of God. If he was to break the law then there would need to be a punishment; for without punishment it is only good advise. Also one would require to obey the law or loose salvation.
Why should a Christian pursue holiness?
When there is no evidence of holiness amongst Christians it dishonours Christ and gives Him a bad name. The world then wonders why they would want to come to Him, as it did not seem to make any difference in ones life. When Christians behave no different than the unregenerated man, there is nothing here that draws someone to want to become a follower of Christ. The fall-out among Christians in our world is appalling, we see it everywhere we turn. Many may start out well only to stumble or have a fall that puts them on the shelf for life. He repents and confesses but struggles the rest of his life, with himself and with the judgement of others both from outside and within the 'Church'.
We see poor role models such as Christian businessmen, actors, singers, and TV evangelists. We see those that are rude and short tempered and who quarrel with neighbours, co-workers and friends. People can be turned away by the things that Christians condone, do, or say.
In the area of Holiness there is Godís part and there is our part. The Bible does not say Holiness comes by obeying certain laws and avoiding certain taboos, but Godís way of Holiness is by grace and by the love of the Saviour and not fear of punishment. Salvation is by faith alone but Holiness is by faith and works.
How to live Holy?
God filled the New Testament with practical instruction and commandments, not laws with penalties attached but examples of lifestyle that pleases Him. As we desire to know God more, to form an intimate bond with Him and to love Him more we will increasingly desire to follow Him and live a life that is pleasing to Him. This is in turn living a life of holiness which he desires and wants from us.