Regulation Impact Statement Updates
Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.
Crowd Sourced Equity Funding
Regulation Impact Statement – Department of the Treasury
On 24 November 2016, the Government introduced the Corporations Amendment (Crowd-sourced Funding) Bill 2016. The Bill establishes a regulatory framework to facilitate crowd-sourced funding by small, unlisted public companies. The crowd-sourced funding (CSF) regime includes:eligibility requirements for a company to fundraise via CSF, including disclosure requirements for CSF offers; obligations of a CSF intermediary in...
Regional Broadband Scheme
Regulation Impact Statement for consultation – Department of Communications and the Arts
On 12 December 2016, the Department of Communications and the Arts released draft legislation for a package of reforms for the telecommunications industry. One part of the package proposes to implement a funding arrangement, the Regional Broadband Scheme (the Scheme), to provide ongoing funding for NBN Co Ltd’s (nbn’s) fixed wireless and satellite services (the non-commercial services) in regional...
Extending the Carrier Licence Conditions Declaration 2014
Regulation Impact Statement – Department of Communications and the Arts
On 2 December 2016 the Minister made the Carrier Licence Conditions (Networks supplying Superfast Carriage Services to Residential Customers) Declaration 2014 (Amendment No. 1 of 2016) (the Declaration).
The Declaration extends to 30 June 2018. It was first made in 2014 to impose functional separation and wholesale supply obligations on certain new superfast networks with a view to supporting competition....
Regulation Impact Statement – Department of Employment
On 13 October 2016 the Government introduced the Seafarers and Other Legislation Amendment Bill 2016, Seafarers Safety and Compensation Levies Bill 2016 and the Seafarers Safety and Compensation Levies Collection Bill 2016.
The Bills would clarify the coverage of the Seacare scheme, update the scheme’s work health and safety and workers’ compensation arrangements and provide more efficient and effective governance of the...
Independent Contractors Regulation 2016
Sunsetting Instrument – Department of Employment
The Independent Contractors Regulations 2007 were scheduled to sunset on 1 April 2017 in accordance with the Legislative Instruments Act 2003. On 8 December 2016, the regulations were repealed and replaced by the Independent Contractors Regulation 2016.
The Independent Contractors Act 2006 and the accompanying regulations protect the freedom of contractors to enter into contracting arrangements.
Consistent with the...
Improving the Model Work Health and Safety Laws
COAG Decision Regulation Impact Statement – Council of Australian Governments
On 2 May 2014, the Council of Australian Governments (COAG) agreed that all governments would investigate ways the model Work Health and Safety (WHS) laws could be improved.
The Decision RIS considers four areas of the WHS laws identified by COAG for investigation: director’s liability, roles and functions of union officials and health and safety representatives under the model WHS laws, model Codes...
Regulation Impact Statement certification authority delegated
Attorney General’s Department
On 21 November 2016, the Attorney General’s Department wrote to the Office of Best Practice Regulation (OBPR) advising that the authority to certify Regulation Impact Statements (RISs) will be delegated to Senior Executive Service (SES) level officers in the department.
This is consistent with arrangements to improve flexibility in the RIS process by allowing agencies to delegate the certification authority to any Senior Executive Services (SES)...
COAG Consultation Regulation Impact Statement – COAG Energy Council
On 24 November 2016, the Council of Australian Governments (COAG) Energy Council released a Regulation Impact Statement (RIS) for consultation examining ways to improve the energy efficiency of residential and commercial lighting in Australia and New Zealand.
The Consultation RIS examines the adequacy of existing regulations on incandescent and halogen lamps, self-ballasted compact fluorescent lamps, double-...
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...