Published Impact Analyses

On 6 August 2020, Minister for Trade, Tourism and Investment Simon Birmingham and Singapore’s Minister for Trade and Industry Chan Chun Sing digitally signed the Australia – Singapore Digital Economy Agreement (DEA).

Singapore is Australia's largest trade and investment partner in ASEAN, and our fifth largest two-way trading partner overall. The Government considers Singapore to be a partner of choice for developing norms in digital trade rules, given its dynamic and innovative economy.

Regulation Impact Statement – Food Standards Australia New Zealand (FSANZ)

On 17 July 2020, the Australia New Zealand Ministerial Forum on Food Regulation (the Forum) accepted a proposed draft standard for mandatory pregnancy warning labels on alcohol to ensure women are appropriately informed about the advice to not consume alcohol while pregnant. The mandatory warning label includes a pictogram and the text ‘PREGNANCY WARNING’ and ‘Alcohol can cause lifelong harm to your baby’.

The Forum confirmed the colour requirements of red, white and black for the warning label and agreed with Food Standards Australia New Zealand’s (FSANZ) proposal to change the signal words from ‘HEALTH WARNING’ to ‘PREGNANCY WARNING’ and to extend the transition period for implementation from two to three years.

COAG Consultation Regulation Impact Statement – Australian Building Codes Board

On 6 July 2020, the Australian Building Codes Board released a Council of Australian Government’s Regulation Impact Statement (RIS) for consultation on proposals to include minimum accessibility standards for housing in the National Construction Code.

Accessible housing is housing that includes features to enable use by people either with a disability or transitioning through their life stages. The minimum accessibility standards for housing considered in the RIS are based on the specifications in the Livable Housing Design Guidelines (LHDG) 2017.

On 12 June 2020, the Minister for Health announced that a Seventh Community Pharmacy Agreement (7CPA), signed by the Commonwealth, the Pharmacy Guild of Australia and for the first time the Pharmaceutical Society of Australia, will commence on 1 July 2020, and be in place until 30 June 2025.

Given its potential to have major impacts on businesses and individuals and the community, a Regulation Impact Statement (RIS) was required for the 7CPA. However, a RIS was not finalised and assessed by the Office of Best Practice Regulation (OBPR) before the 7CPA was signed. Consequently, the OBPR has assessed the process and analysis for the 7CPA was insufficient to meet the Australian Government’s Regulatory Impact Analysis (RIA) requirements.

COAG Decision Regulation Impact – Australian Energy Market Commission

On 18 June 2020, the Australian Energy Market Commission (AEMC) released the draft rule determination and draft rule titled National Electricity Amendment (Changes to intervention mechanisms) Rule 2020.

On 18 June 2020, the Australian Energy Market Commission (AEMC) released the draft rule determination and draft rule titled National Electricity Amendment (Removal of intervention hierarchy) Rule 2020.

The draft rule replaces the existing requirement for AEMO to use reasonable endeavours to intervene using RERT prior to issuing directions or instructions with a principle that AEMO must use reasonable endeavours to choose the intervention mechanism, or combination of intervention mechanisms, that is effective in addressing the need to intervene in the market while minimising the direct and indirect costs of intervention. The draft rule also extends transparency and accountability arrangements to encompass AEMO's decision-making on the selection of intervention mechanisms. The draft rule actions a recommendation made by the AEMC in its Interventions investigation final report.

On 22 May 2020, the Treasurer, the Hon Josh Frydenberg MP, announced Litigation funders would be regulated under the Corporations Act, requiring them to hold an Australian Financial Services Licence (AFSL) and comply with the managed investment scheme regime, commencing three months from the date of the announcement.

The amendments to the regulations are intended to provide greater transparency around the operations of litigation funders in Australia, and will require them to:

On 21 May 2020, the Treasurer, the Hon Josh Frydenberg MP, announced the Australian Government will extend the ban on conflicted remuneration to listed investment companies and trusts (LICs), commencing 1 July 2020. This followed a public consultation on the current stamping fee exemption conducted by the Treasury in early 2020.

The extension of the ban to LICs is intended to address risks associated with the potential mis-selling of these products to retail consumers, improve competitive neutrality and provide long term certainty in the funds management industry.

Regulation Impact Statement – Department of Infrastructure, Transport, Regional Development and Communications

On 11 June 2020, the Australian Government introduced legislation to amend the Australian content multi‑channel quota obligation in section 121G of the Broadcasting Services ACT 1992 (BSA). This permits commercial television licensees in regional or remote licence areas who are unable to meet the multi-channel quota of 1,460 hours of Australian content in a particular year, to be deemed to have satisfied this obligation in certain circumstances.

Regulation Impact Statement – Department of Industry, Science, Energy and Resources

On 1 June 2020, the Minister for Industry, Science and Technology announced options to address concerns with the power imbalance between car dealers and manufacturers.

This RIS identifies four options for regulatory intervention which will have a positive net benefit. Together these options seek to address the identified problems in the new car retailing sector in scope for this RIS: