Regulation Impact Statement Updates
Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.
Regulation Impact Statement – Department of the Treasury
On 16 September 2015, the Government introduced legislation to increase the level of independence in governance of superannuation funds by requiring superannuation trustee boards to have at least one-third independent directors and an independent chair.
A Regulation Impact Statement (RIS) prepared by the Department of the Treasury has been assessed as compliant and consistent with best practice by the Office of Best Practice Regulation.
The RIS estimates the proposal will increase regulatory burden by $13.15 million per annum. The OBPR agreed to the estimate of regulatory burden and offsets.