Problem being addressed
The ability to access, transport and use explosives in a safe and secure manner is essential for fulfilling the unique operational requirements of the Commonwealth Government Agencies such as the Department of Defence (including visiting foreign government officials), the Department of Home Affairs, the Australian Federal Police, and contractors, acting on the behalf of Commonwealth agencies. These stakeholders use explosives for training, operations, research and development, and various other purposes.
The importance of explosives in achieving Commonwealth objectives creates the need for a consistent, legally entrenched, modernised explosives regulatory regime. This regime must meet the needs of the Commonwealth, as well as other impacted stakeholders, including individuals, the community, industry, and State and Territory governments.
Proposal
Published Impact Analyses
Official website for Published Impact Analyses for decisions announced by the Australian Government, Ministerial Forums and National Standard Setting Bodies.
Independent Review – Australian Prudential Regulation Authority
On 5 August 2021, the Australian Prudential Regulation Authority (APRA) announced a final revised Prudential Standard APS 111 Capital Adequacy: Measurement of Capital (APS 111).
The updates to the Prudential Standard on capital adequacy are designed to reinforce financial system resilience, promote simple and transparent capital issuance through removing the allowance for the use of special purpose vehicles (SPVs) in regulatory capital issuance, and clarify aspects of APS 111 to assist Authorised Deposit-Taking Institutions issue capital instruments.
Problem being addressed
The Regulation Impact Statement (RIS) identifies a number of inefficiencies in existing pricing arrangements for holders of radiocommunications apparatus licences, following recommendations from the Spectrum Pricing Review (SPR) made by the Department of Infrastructure, Transport, Regional Development and Communications. The SPR was endorsed by the then government in February 2018.
This RIS extends on the implementation of reforms under the 1st tranche of the Spectrum Pricing Review in June 2021. An independent review was certified in lieu of a RIS regarding the 1st tranche of the review.
Proposal
The RIS proposes that the preferred option is to update the pricing formula to better reflect current demand with the intention to smooth demand across spectrum locations and geographic locations.
Assessed RIS outcome
Good practice
Announcement date
12 July 2022
Link to announcement
New rules to fight SMS scams | ACMA
Announcement date
7 July 2022
Link to announcement
Material change in network infrastructure project costs | AEMC
Announcement date
10 June 2022
Link to announcement
National Quality Framework Review (nqfreview.com.au)
Problem being addressed
The National Quality Framework (NQF) provides a national approach to the regulation of the quality of education and care services across Australia. The review identified three areas for improvement to ensure the NFQ continues to support quality, safe early childhood education: poor information accessibility; administrative and regulatory compliance burdens; and unacceptable hazards or risks to children. In December 2018, Commonwealth, state and territory education ministers agreed to commission the review to ensure the NFQ is fit for purpose and complies with best practice regulatory standards.
Announcement date
14/06/2022
Link to Announcement
Links to Newly Remade Instruments
ASIC Corporations (In-use Notices for Employer-sponsored Superannuation and Superannuation Dashboards) Instrument 2022/496 - https://www.legislation.gov.au/Details/F2022L00762
Announcement date
30/06/2022
On 30 June 2022, the Australian Prudential Regulation Authority (APRA) released a Post-Implementation Review (PIR) for Basel III liquidity reforms, which has been assessed as adequate by the Office of Best Practice Regulation (OBPR).
Two core measures of the reforms - the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR), became effective from 2015 and 2018 respectively, with the objectives of:
Announcement date
3 March 2022
Link to announcement
https://www.legislation.gov.au/Details/F2022L00253
Problem being addressed
It is difficult for smaller wholesale broadband providers to roll out their networks due to the requirement that they structurally or functionally separate their wholesale and retail businesses once they have more than 2,000 customers. Under this threshold, providers are exempt from the separation requirements.
Proposal
Increasing the class exemption threshold from 2,000 to 12,000 for small broadband businesses.
Assessed RIS outcome
Adequate
Announcement date
1 April 2022
Link to announcement
Telecommunications Service Provider (Customer Identity Authentication) Determination 2022