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Changes to foreign investment screening arrangements – Stakeholder request – Department of the Treasury

On 11 February 2015 the Prime Minister, Treasurer and the Minister for Agriculture announced changes to the screening arrangements for foreign investment in Australia’s agricultural sector. The Australian Government’s Guide to Regulation (Guide) states that the choice of Regulation Impact Statement (RIS) appropriate to the task is up to the agency in conjunction with the Office of Best Practice Regulation (OBPR). The Department of the Treasury chose to complete a short-form RIS for the proposed changes to the foreign investment screening arrangements. It was the OBPR’s view that for this proposal a standard-form RIS would have been consistent with best practice. The Department is compliant with the RIS requirements. This web post responds to a request from a stakeholder consistent with the Government’s User Guide to the Australian Government Guide to Regulation (page 8).