Published Impact Analyses

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:

On 9 December 2011, the Legislative and Governance Forum on Food Regulation (the Forum) announced its response to the recommendations of the Review of Food Labelling Law and Policy. The response included a decision to support a warning message about the risks of consuming alcohol while pregnant. While the industry is given an opportunity to introduce appropriate labelling on a voluntary basis, after a period of two years the appropriate labelling will be regulated. The Council of Australian Governments (COAG) best practice regulation requirements apply to decisions by ministerial councils or other bodies where there is a reasonable expectation of widespread compliance.

On 27 February 2012, the Department of Infrastructure and Transport tabled a new vehicle standard - the Australian Design Rule (ADR) Harmonisation. Previously every time the United Nations Economic Commission for Europe (UNECE) improved their regulations Australian importers needed to wait on a costly and time consuming parallel process. This delayed the importation of vehicles with improved safety standards. The new standard will have benefits for business and consumers as it removes this time delay when importing latest release motor vehicles as the UNECE regulation will be automatically referenced in the relevant ADRs. Importantly, the rule harmonisation will provide increased certainty to vehicle importers as to when they can import new release vehicles. A Regulation Impact Statement was prepared by the Department of Infrastructure and Transport and was assessed as adequate by the Office of Best Practice Regulation.

On 13 March 2012, the Department of Infrastructure and Transport tabled an update of Australian Design Rule (ADR) 4. The update re-aligns ADR 4 with the latest version of the international standard – the United Nations Economic Commission for Europe (UNECE) Regulation 16. The re-alignment means it is now a requirement that new passenger vehicles are fitted with a seatbelt reminder for the driver’s position, and that any folding seats must be fitted with seatbelts. The RIS finds that the safety benefits of installing a driver’s seat belt reminder, over the life of a vehicle, outweigh the installation costs. A Regulation Impact Statement was prepared by the Department of Infrastructure and Transport and was assessed as adequate by the Office of Best Practice Regulation.