Regulation Impact Statement Updates
Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.
Margining and risk mitigation for non-centrally cleared derivatives
Regulation Impact Statement- Australian Prudential Regulation Authority
On 17 October 2016, the Australian Prudential Regulation Authority (APRA) released the financial prudential standard for margining and risk mitigation for non-centrally cleared derivatives.
A Regulation Impact Statement (RIS) was prepared by APRA, assessing options to implement internationally agreed reforms on margining and risk mitigation for non-centrally cleared derivatives in the Australian financial...
Register of Foreign Ownership of Water Entitlements
Regulation Impact Statement – The Treasury
On 12 October 2016, the Treasurer introduced the Register of Foreign Ownership of Agricultural Land Amendment (Water) Bill 2016. The bill would establish a Register of Foreign Ownership of Water Entitlements.
A Regulation Impact Statement (RIS) was prepared and certified by the Treasury under the Australian Government’s best practice regulation requirements. The Office of Best Practice Regulation (OBPR) assessed the RIS as compliant...
Proposal to increase energy efficiency of pool pumps for residential use
COAG Consultation Regulation Impact Statement – swimming pool pumps
On 14 November 2016, the Department of the Environment and Energy released a Council of Australian Governments (COAG) Consultation Regulation Impact Statement (RIS) as part of the Energy Council’s Equipment Energy Efficiency (E3) Programme. The Consultation RIS examines options to improve the energy efficiency of residential pool and spa pumps.
The Consultation RIS considers the introduction of mandatory energy...
Superannuation Reform Package
Regulation Impact Statement – Department of the Treasury
On 9 November 2016, the Government introduced legislation to make the superannuation system fairer and more fiscally sustainable; encourage and provide more opportunities for people to save for their retirement; and improve the integrity of the superannuation system to ensure that it is used for the purpose of providing income in retirement to substitute or supplement the age pension and not for tax minimisation and estate...
Fire Hose Reels in Office Buildings
Regulation Impact Statement for Consultation – Australian Building Codes Board
In November 2016, the Australian Buildings Codes Board (ABCB) released a Council of Australian Governments (COAG) Consultation Regulation Impact Statement (RIS) which assesses the need for fire hose reels in new office buildings.
This Consultation RIS considers whether the fire safety objectives of the National Construction Code (NCC) for Class 5 (office) buildings can be more cost effectively...
Remaking of sunsetting instrument without significant amendments
The Treasury is remaking the Banking Regulations 1966, which are scheduled to sunset on 1 April 2017, without significant amendments. The Banking Regulations 1966 specify the thresholds and conditions for the Government’s deposit guarantee and unclaimed monies regime.
The remade Regulation will repeal redundant provisions, simplifying language and restructure provisions that are difficult to navigate. These changes will not alter the substantive meaning or...
Enhancing US-Bound Air Cargo Security
Regulation Impact Statement – Department of Infrastructure and Regional Development
On 13 Oct 2016, the Government amended the Aviation Transport Security Regulations 2005 through the Aviation Transport Security Amendment (Cargo) Regulations 2016 (the Regulation).
The Regulation is to give effect to new air cargo security arrangements for US-Bound air cargo which will meet the United States Transportation Security Administration (TSA) requirement for all US-Bound air cargo to...
Notifiable Data Breaches
Regulation Impact Statement – Attorney-General’s Department
On 19 October 2016, the Privacy Amendment (Notifiable Data Breaches) Bill 2016 was introduced in Parliament. The Bill will require individuals to be notified when their private information has been breached. Organisations regulated under the Privacy Act, with turnover above $3 million, will be required to notify individuals of data breaches.
The Attorney‑General’s Department finalised a Regulation Impact Statement,...
Precursor Chemicals and Equipment [Decision]
COAG Decision Regulation Impact Statement – The Attorney-General’s Department
On 21 October 2016 the Law, Crime and Community Safety Council agreed to introduce new measures to improve the national consistency of controls on precursor chemicals and equipment.
Inconsistencies across Australian jurisdictions were found to present opportunities for the diversion of chemicals and equipment towards the production of illicit drugs. The lack of a central system to report the sale of...
Precursor Chemicals and Equipment [Consultation]
COAG Consultation Regulation Impact Statement – The Attorney-General’s Department
On 6 May 2016, the Attorney-General’s Department released a Regulation Impact Statement (RIS) for consultation examining ways to address the diversion of chemicals and equipment towards the production of illicit drugs.
The Consultation RIS examined the introduction of a nationally harmonised list of chemicals and equipment, the creation of an electronic information system to be shared by all...