On 17 October 2019, the Government introduced the Anti Money Laundering and Counter Terrorism Financing and Other Legislation Amendment Bill 2019 to Parliament.

The Bill amends the Anti-Money Laundering and Counter‑Terrorism Financing Act 2006 and the Criminal Code 1995, to implement the second phase of reforms in response to the recommendations of the Report on the statutory review of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and associated Rules and...

Independent Review – Australian Prudential Regulation Authority

On 12 December 2019, the Australian Prudential Regulation Authority (APRA) released a new prudential standard for banks and other authorised deposit-taking institutions (ADIs), Prudential Standard APS 220 Credit Risk Management, to replace Prudential Standard APS 220 Credit Quality from January 2021.

The standard places a requirement on ADIs to control credit risk by adopting prudent credit risk management policies...

Regulation Impact Statement – Department of the Treasury

On 5 December 2019, the Treasurer introduced the Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019, which implements a revised version of the Better targeting the research and development tax incentive measure announced in the 2018-19 Budget and introduced into the previous Parliament in September 2018.

The 2018 Bill was accompanied by a Regulation Impact Statement (RIS) that had been assessed by...

Regulation Impact Statement for consultation – Department of Agriculture

On 20 December 2019, a Regulation Impact Statement on live sheep exports to, or through, the Middle East during the Northern Hemisphere Summer was released for consultation.

The RIS presents three options to manage the risk of heat stress in live sheep exported to, or through, the Middle East during the Northern Hemisphere Summer. The RIS considers the impacts of the status quo; prohibiting live sheep...