They asked for permission to speak to Laws earlier this week, and despite initially denying reports he was in the running has now admitted he attended an interview.
Laws said: "My 100 per cent commitment and total loyalty is to Scunthorpe United, and it would take something very special to tempt me away from the club which is so much a part of my life.
"I would like the fans, management team and players to focus fully on Scunthorpe United as, at this stage, it is very much business as usual."
Wednesday say they have a shortlist for the position - with Laws one of three in the running.
Former Nottingham Forest and West Brom boss Gary Megson is also believed to be in contention.
Wednesday chairman Dave Allen said: "I like him (Laws).
"He comes from the Brian Clough camp, and I'm a great admirer of the Clough camp.
"He has had 10 good years of what he's doing, and progressed very well."
Wednesday have confirmed to Iron-Bru.net that they don't expect to name a new manager until next week.