Regulation Impact Statement Updates
Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.
Remaking of sunsetting instrument without amendments – Department of Industry, Innovation and Science
The Department of Industry, Innovation and Science is scheduled to remake the Competition and Consumer (Industry Codes – Oilcode) Regulation 2016 without significant amendments.
The review recommended that:
- Terminal gate pricing arrangements be retained in their current form;
- The code be retained so as to offer continued contractual protection to all parties; and
- The dispute resolution scheme be continued to offer services to industry participants under the Oilcode.
In line with the Australian Government best practice regulation requirements for sunsetting legislative instruments, the Department has assessed the operation of the Regulation in consultation with affected stakeholders and has certified that the instrument is operating efficiently and effectively.
Therefore the Office of Best Practice Regulation notes that a Regulation Impact Statement is not required for this regulation to be remade. As the instrument is being remade without amendments there are no compliance cost changes.