Published Impact Analyses

The Office of Best Practice Regulation (OBPR) monitors and reports publicly on compliance with both the Australian Government and Council of Australian Governments (COAG) best practice regulation requirements. The OBPR has previously published a summary of regulatory activity in its annual Best Practice Regulation Report [] at the end of the financial year.  Consistent with the Government’s objective of providing transparency to regulatory decisions, the OBPR now intends to update and publish summaries of regulatory activity on a quarterly basis.  The first of these summaries comprise separate tables containing:

On 12 February 2012, the then Parliamentary Secretary to the Treasurer, the Hon David Bradbury MP, released a COAG Consultation Regulation Impact Statement (RIS) on reforms of charitable fundraising regulation across Commonwealth, state and territory laws.

Consistent with the Government’s objective of improving transparency in relation to regulatory decisions, the Office of Best Practice Regulation monitors and reports on compliance with the best practice regulation requirements. This includes reporting on post-implementation review compliance. Post-implementation reviews are required either because a significant regulatory decision was made without an adequate Regulation Impact Statement (RIS), or because the Prime Minister has granted an ‘exceptional circumstances’ exemption from the RIS requirements. Post-implementation reviews are required to commence within 1–2 years of the relevant measure being implemented and to be completed within 3-6 months.

Consistent with the Government’s objective of improving transparency in relation to regulatory decisions, the Office of Best Practice Regulation monitors and reports on compliance with the best practice regulation requirements. This includes reporting on post-implementation review compliance. Post-implementation reviews are required either because a significant regulatory decision was made without an adequate Regulation Impact Statement (RIS), or because the Prime Minister has granted an ‘exceptional circumstances’ exemption from the RIS requirements. Post-implementation reviews are required to commence within 1–2 years of the relevant measure being implemented and to be completed within 3-6 months.

On 27 October 2011, the Chief Executive Officer (CEO) of the Australian Transaction Reports and Analysis Centre (AUSTRAC) made Rules under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) to specify the matters the AUSTRAC CEO must take into account to cancel or suspend the registration of a registered alternative remittance dealer.  The AML/CTF Act requires remittance dealers to register with AUSTRAC and comply with financial transaction reporting obligations. The Act also gives AUSTRAC the power to cancel or suspend a remittance dealer’s registration where AUSTRAC considers they pose a money laundering or serious crime financing risk. The Office of Best Practice Regulation (OBPR) considered the impact of the proposed Rules was likely to be more than minor or machinery in nature, so a Regulation Impact Statement (RIS) was required to be prepared.

On 30 March 2012, the Minister for Infrastructure and Transport together with the Assistant Treasurer announced the Government’s response to the report by the Productivity Commission into the Economic Regulation of Airport Services. The Government broadly agreed with the Productivity Commission’s recommendations and will:

On 28 March 2012, the Australian Securities and Investments Commission (ASIC) published updated guidance (Regulatory Guide 46) on investment in unlisted property schemes. ASIC has developed or updated six benchmarks and eight disclosure principles for unlisted property schemes that can help retail investors understand the risks, assess the rewards being offered and decide whether these investments are suitable for them. This guidance aims to assist responsible entities in understanding how to disclose against the benchmarks on an ‘if not, why not basis’ and apply the disclosure principles.

The treaty on the 'Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization' was signed on 20 January 2012 by Australia's United Nations Ambassador Gary Quinlan on behalf of the Australian Government. The treaty is a product of Australia’s participation in the October 2010 Conference of Parties to the Convention on Biological Diversity. The Protocol establishes a legally-binding framework for access to genetic resources for biotechnology research and development and other research activities. It also establishes a framework to ensure compliance with the legislation of provider countries to promote the sharing of the benefits from utilising genetic resources or associated traditional knowledge.

Consistent with the Government’s objective of improving transparency in relation to regulatory decisions, the Office of Best Practice Regulation monitors and reports on compliance with the best practice regulation requirements. This includes reporting on post-implementation review compliance. Post-implementation reviews are required either because a significant regulatory decision was made without an adequate Regulation Impact Statement (RIS), or because the Prime Minister has granted an ‘exceptional circumstances’ exemption from the RIS requirements. Post-implementation reviews are required to commence within 1–2 years of the relevant measure being implemented and to be completed within 3-6 months.

On 23 September 2011, the Minister for Mental Health and Ageing made the User Rights Amendment Principles 2011 (No.3) (the Principles) to: