Regulation Impact Statement Updates

Insufficient Regulatory Impact Analysis - Seventh Community Pharmacy Agreement - the Department of Health

1st July 2020

On 12 June 2020, the Minister for Health announced that a Seventh Community Pharmacy Agreement (7CPA), signed by the Commonwealth, the Pharmacy Guild of Australia and for the first time the Pharmaceutical Society of Australia, will commence on 1 July 2020, and be in place until 30 June 2025.

Given its potential to have major impacts on businesses and individuals and the community, a Regulation Impact Statement (RIS) was required for the 7CPA. However, a RIS was not finalised and...

Changes to Intervention Mechanisms

COAG

22nd June 2020

COAG Decision Regulation Impact – Australian Energy Market Commission

On 18 June 2020, the Australian Energy Market Commission (AEMC) released the draft rule determination and draft rule titled National Electricity Amendment (Changes to intervention mechanisms) Rule 2020.

The draft rule removes the mandatory restrictions framework and the obligation to counteract during an intervention and clarifies the basis for affected participant compensation cost recovery following...

Removal of Intervention Hierarchy

COAG

18th June 2020

On 18 June 2020, the Australian Energy Market Commission (AEMC) released the draft rule determination and draft rule titled National Electricity Amendment (Removal of intervention hierarchy) Rule 2020.

The draft rule replaces the existing requirement for AEMO to use reasonable endeavours to intervene using RERT prior to issuing directions or instructions with a principle that AEMO must use reasonable endeavours to choose the intervention mechanism, or combination of intervention...

Insufficient Regulatory Impact Analysis – Regulation of Litigation Funders – The Treasury

Aust Gov

15th June 2020

On 22 May 2020, the Treasurer, the Hon Josh Frydenberg MP, announced Litigation funders would be regulated under the Corporations Act, requiring them to hold an Australian Financial Services Licence (AFSL) and comply with the managed investment scheme regime, commencing three months from the date of the announcement.

The amendments to the regulations are intended to provide greater transparency around the operations of litigation funders in Australia, and will require them to:

...

Insufficient Regulatory Impact Analysis – Extending Ban on Conflicted Remuneration for Listed Investment Companies and Trusts – The Treasury

Aust Gov

15th June 2020

On 21 May 2020, the Treasurer, the Hon Josh Frydenberg MP, announced the Australian Government will extend the ban on conflicted remuneration to listed investment companies and trusts (LICs), commencing 1 July 2020. This followed a public consultation on the current stamping fee exemption conducted by the Treasury in early 2020.

The extension of the ban to LICs is intended to address risks associated with the potential mis-selling of these products to retail consumers, improve...

Australian content multi-channel obligations for regional broadcasters

Aust Gov

12th June 2020

Regulation Impact Statement – Department of Infrastructure, Transport, Regional Development and Communications

On 11 June 2020, the Australian Government introduced legislation to amend the Australian content multi‑channel quota obligation in section 121G of the Broadcasting Services ACT 1992 (BSA). This permits commercial television licensees in regional or remote licence areas who are unable to meet the multi-channel quota of 1,460 hours of Australian content in a particular year,...

Franchise relationships between car manufacturers and new car dealers

Aust Gov

12th June 2020

Regulation Impact Statement – Department of Industry, Science, Energy and Resources

On 1 June 2020, the Minister for Industry, Science and Technology announced options to address concerns with the power imbalance between car dealers and manufacturers.

This RIS identifies four options for regulatory intervention which will have a positive net benefit. Together these options seek to address the identified problems in the new car retailing sector in scope for this RIS:

Option...

Wholesale Demand Response Mechanism

COAG

11th June 2020

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 11 June 2020, the Australian Energy Market Commission (AEMC) released a final rule determination in relation to the National Electricity Amendment (Wholesale Demand Response Mechanism) Rule 2020.

This final determination sets out a series of changes to the National Electricity Rules to facilitate wholesale demand response in the National Electricity Market, principally through implementing a...

Introduction of Metering Coordinator Planned Interruptions

COAG

10th June 2020

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 21 May 2020, the Australian Energy Market Commission (AEMC) released the final rule determination and final rules titled National Energy Retail Amendment (Introduction of metering coordinator planned interruptions) Rule 2020 and National Electricity Amendment (Introduction of metering coordinator planned interruptions) Rule 2020.

The final rules aim to provide customers with shared fusing at...

Review of the unwanted emission boundary core condition on 3.4 GHz spectrum licenses

Aust Gov

2nd June 2020

Independent Review – Australian Communications and Media Authority

On 26 May 2020, the Australian Communications and Media Authority (ACMA) announced changes to the 3.4 GHz spectrum licence core condition relating to unwanted emission boundaries. This change entails moving the unwanted emission boundary from 3740 MHz to 3840 MHz.

The change to the 3.4 GHz unwanted emission boundary aligns with international standards for 5G frequency boundaries and ensures that licensees...