Official website for Published Impact Analyses for decisions announced by the Australian Government, Ministerial Forums and National Standard Setting Bodies.
COAG Decision Regulation Impact Statement – Legislative and Governance Forum on Consumer Affairs (CAF)
On 6 November 2020, the Legislative and Governance Forum on Consumer Affairs (CAF) agreed to strengthen the existing unfair contract term protections in the Australian Consumer Law. Key reforms include:
Regulation Impact Statement – Department of Infrastructure, Transport, Regional Development and Communications
On 28 October 2020, the Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development, the Hon Michael McCormack MP, decided Australia should not accede to the Athens Convention relating to the Carriage of Passengers and their Luggage by Sea 1974, as amended by the 2002 Protocol (Athens Convention) at this time.
Independent Review – Department of Health
On 21 October 2020, the Government introduced the Aged Care Legislation Amendment (Improved Home Care Payment Administration No. 2) Bill 2020.
The purpose of the Bill is to change the payment of home care subsidy to approved providers to be on invoice for actual services delivered. Payment of subsidy for services provided will introduce a more contemporary business practice into home care subsidy payment arrangements and bring these arrangements into alignment with other Government programs.
The Bill amends both the Aged Care Act 1997 and the Aged Care (Transitional Provisions) Act 1997, and gives effect to the second stage of reforms to improve payment administration arrangements for home care packages announced in the 2019‑20 Budget.
Regulation Impact Statement – The Treasury
On 28 October 2020, the Australian Government introduced the Foreign Investment Reform (Protecting Australia’s National Security) Bill 2020, and the Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2020.
These Bills include a package of reforms to ensure Australia’s foreign investment screening framework keeps pace with emerging risks and global developments, whilst maintaining Australia as an attractive destination for foreign investment. The Bills improve and update operation of the framework across national security, compliance monitoring and enforcement, and integrity, as well as streamlining requirements and making technical changes to improve operation of the law. The Imposition Bill also simplifies existing fee arrangements
COAG Consultation Regulation Impact Statement – Australian Energy Market Commission
On 5 November 2020, the Australian Energy Market Commission (AEMC) released the draft rule determination and rule titled National Energy Retail Amendment (Maintaining Life Support Customer Registration When Switching) Rule 2020.
The draft rule seeks reduce barriers for life support customers that switch retailer or distribution network service provider (DNSP).
COAG Consultation Regulation Impact Statement – Consumer Affairs Australian and New Zealand (CAANZ)
On 8 October 2019, the Treasury, on behalf of CAANZ, released a Council of Australian Governments (COAG) Regulation Impact Statement (RIS) for consultation on improving the effectiveness of the Consumer Product Safety System. The purpose of the consultation process was to determine how reform of the product safety legislative framework could improve safety outcomes for consumers, enhance clarity for businesses, and improve government’s ability to respond to unsafe products without imposing unnecessary costs.
The Consultation RIS was assessed by the Office of Best Practice Regulation as compliant with the COAG Best Practice Regulation requirements.
COAG Decision Regulation Impact Statement – Australian Energy Market Commission
On 29 October 2020, the Australian Energy Market Commission (AEMC) released the final rule determination and rule titled National Electricity Amendment (Reallocation of National Transmission Planner Costs) Rule 2020.
The final rule has been developed through an expedited process and will allow the Australian Energy Market Operator to cost recover its national transmission planner function fees from co-ordinating network service providers, who will in turn include these fees in their transmission pricing. The rule also clarifies the recovery of fees in Victoria where the Australian Energy Market Operator is also the co-ordinating network service provider.
Advice from the Department of Health
On 21 October 2020, the Government introduced the Aged Care Amendment (Aged Care Recipient Classification) Bill 2020.
The Bill will introduce an additional, discretionary procedure for classification of recipients of residential aged care and some kinds of flexible care. This will enable a year of ‘shadow assessment’ to be undertaken using the Australian Aged Care Classification (AN-ACC) assessment tool, starting in the first half of 2021. During this shadow assessment period, the AN-ACC tool will be used to assess all existing and new aged care residents, and assign them with an AN-ACC class.
Independent Review – Australian Securities and Investments Commission
On 23 October 2020, the Australian Securities and Investments Commission (ASIC) announced a product intervention order imposing conditions on the issue and distribution of contracts for difference (CFD) to retail clients.
The objective of the product intervention order is to reduce the risk of significant detriment to retail clients resulting from CFDs. The order strengthens consumer protections by reducing CFD leverage available to retail clients and by targeting CFD product features and sales practices that amplify retail clients’ CFD losses. It also brings Australian practice into line with protections in force in comparable markets elsewhere.
Independent Review – The Treasury
On 6 October 2020, as part of the 2020-21 Budget, the Government announced a package of superannuation reforms informed by the findings and recommendations of the Productivity Commission’s review of the efficiency and competitiveness of the Australian Superannuation System.
The reform package includes measures to prevent the creation of unintended multiple superannuation accounts, address underperformance, make it simpler for members to select a well-performing fund, and put beyond doubt that trustees must act in the best financial interests of members.