Regulation Impact Statement Updates
Official website for publishing regulatory impact analysis information for regulatory decisions announced by the Australian Government, COAG and COAG Councils.
Risk Management Systems of Responsible Entities
Regulation Impact Statement – Australian Securities and Investment Commission
On 27 March 2017, the Australian Securities and Investment Commission (ASIC) released guidance on risk management systems of responsible entities.
Australian financial services (AFS) licensees have an ongoing legal obligation to have adequate risk management systems in place. The released guidance on risk management systems provides tailored guidance for responsible entities on how to meet the...
Prime Minister’s exemption – Sugar Industry Code
Department of the Treasury
On 4 April 2017, the Treasurer prescribed the Competition and Consumer (Industry Code—Sugar) Regulations 2017 (‘the Code’) as a mandatory industry code under the Competition and Consumer Act 2010.
The Code:provides for an arbitration process for supply contracts between sugar suppliers and millers; provides for an arbitration process for on-supply agreements between millers and marketers; and ensures that growers have a right to choose...
Non-compliance with COAG’s best practice regulation requirements – Gas market reform: Binding arbitration framework
COAG Energy Council
On 14 December 2016, the Council of Australian Governments (COAG) Energy Council agreed to implement a compulsory arbitration framework for gas pipeline access.
In making this decision the COAG Energy Council did not comply with the Council of Australian Governments’ best practice regulation requirements to prepare a Regulation Impact Statement (RIS).
Remaking of Sunsetting Instrument Without Significant Amendments
Class Order Relief for Business Introduction or Matching Services – Australian Securities and Investments Commission
On 29 March 2017, the Australian Securities and Investments Commission (ASIC) remade the Class Order (CO 02/273) without significant amendments.
The Class Order 02/273 provides conditional exemptions from the fundraising and debenture requirements in the Corporations Act 2001 (the Act) for persons involved in making or calling attention to offers of securities...
Woomera Prohibited Area
Post-implementation Review – Department of Defence
On 8 August 2014 the Defence Legislation Amendment (Woomera Prohibited Area) Act 2014 received royal assent. The Act amended the Defence Act 1903 to establish a regulatoryframework to administer access to the Woomera Prohibited Area (WPA) following recommendations made in the Government Review of the Woomera Prohibted Area 2011.
A Regulation Impact Statement was required, however exceptional circumstances were granted by the...
Interactive Gambling Restrictions
Regulation Impact Statement – Department of Communications
On 10 November 2016, the Interactive Gambling Amendment Bill 2016 was introduced in Parliament, following the Review of Illegal Offshore Wagering which found that between $64 and $400 million is spent on illegal online wagering services each year. The Bill amends the Interactive Gambling Act 2001 to prohibit ‘click to call’ in-play betting services and increases powers of the Australian Communications and Media Authority to...
Imported Food Reforms
Regulation Impact Statement – Department of Agriculture and Water Resources
On 20 March 2017, the Government announced a public consultation period on the pre exposure draft legislation to strengthen the management of safety risks for imported food.
The proposed legislation will increase the accountability of importers, taking into consideration the food safety and regulatory systems in countries of origin and introducing stronger traceability requirements.
Declaration of Wholesale ADSL
Independent Review – Australian Competition and Consumer Commission
On 3 February 2017, the Australian Competition and Consumer Commission (ACCC) released a report of its final decision to extend Declaration of the wholesale Asymmetrical Digital Subscriber Line (ADSL) service (the Declaration) for five years until 13 February 2022.
The wholesale ADSL service is a point-to-point service which enables network providers to deliver high speed fixed-line broadband internet services...
Amending the Fair Work Act 2009 to Protect Vulnerable Workers
Independent Review – Department of Employment
On 1 March 2017, the Fair Work Amendment (Protecting Vulnerable Workers) Bill 2017 was introduced into Parliament.
The Government introduced amendments to the Fair Work Act 2009 to protect workers from exploitation by unscrupulous employers and improve compliance with Australia’s workplace laws.
The Department of Employment certified the following reports as independent reviews which have undertaken a process and analysis...
Automatic Fire Suppression Systems for Covered Balconies in Residential Buildings
COAG Decision Regulation Impact Statement – The Australian Building Codes Board
On 1 March 2017, the Australian Building Codes Board released the final Decision Regulation Impact Statement (RIS) which considers options to mandate automatic fire suppressions systems for covered balconies over 25 meters in effective height.
The issue in question is the risk to the safety of building occupants from a fire igniting on a balcony of a residential building, where the interior is...