On 24 March 2011, the Treasurer introduced legislation to Parliament to address anti-competitive price signalling and information exchange. The prohibitions will apply to those sectors of the economy specified by regulation, and initially only to banks. A regulation impact statement (RIS) was prepared for this legislation and was assessed as adequate. The RIS published here on 4 April 2011 excluded information that was contained in the RIS considered by the decision-maker, and Treasury was assessed as not being compliant with the best practice regulation requirements at the transparency stage. The RIS now attached includes all the information and we have amended our assessment to compliant with the best practice regulation requirements. This RIS follows on from the policy RIS, which was published on 21 December 2010.
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