Published Impact Analyses

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

https://asic.gov.au/about-asic/news-centre/find-a-media-release/2022-releases/22-142mr-asic-remakes-relief-on-pdss-superannuation-dashboards-and-fsgs/

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

Link to announcement
https://consultation.accc.gov.au/product-safety/toppling-furniture-consultation-regulation-impact/
 

Announcement date
26 May 2022

Link to announcement
Enhancing Information on Generator Availability in MT PASA

Problem being addressed

Post–implementation Review extension – Australian Prudential Regulation Authority (APRA)

The Basel III liquidity reforms were introduced in 2014, with the commencement of the revised Prudential Standard APS 210 Liquidity (APS 210). Two core measures of the reforms, the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR), became effective from 2015 and from 2018, respectively.

Announcement date
30/03/2022
 

Link to announcement
https://www.legislation.gov.au/Details/F2022L00421 

Problem being addressed
Legislation set to sunset
 

Proposal
ASIC has certified that ASIC Class Order [CO 11/927] is operating efficiently and effectively. This certification was informed by a consultation process with affected parties. Accordingly, the regulations have been remade with only minor changes to reflect the updated names of the program and Government department. 
 

Assessed RIS outcome
Certification Letter
 

Regulatory burden
Nil

Announcement date
6 April 2022
 

Link to announcement
ASIC’s CFD product intervention order extended for five years

Problem being addressed
ASIC Corporations (Product Intervention Order – Contracts for Difference) Instrument 2020/986 was scheduled to sunset on 23 May 2022.