Published Impact Analyses

Regulation Impact Statement – Department of the Treasury

On 30 March 2017, the Government introduced legislation to enable the recovery of the regulatory costs of the Australian Securities and Investments Commission (ASIC), commencing 1 July 2017.

ASIC formerly received around 15 per cent of its funding through fees collected from industry participants, but was largely funded through budget appropriations for its regulatory activities. This was inconsistent with the Government’s Charging Framework, which broadly suggests that entities which create the need for regulation should bear the cost of that regulation.

Independent Review – Department of the Treasury

On 19 October 2017, the Government introduced legislation to give the Australian Prudential Regulation Authority (APRA) additional powers for crisis resolution and resolution planning in relation to prudentially-regulated entities, in particular authorised deposit-taking institutions (ADIs) and insurers (general insurers and life insurance companies).

Regulation Impact Statement – Department of Communications and the Arts

On 6 December 2017, the Government introduced the Broadcasting Legislation Amendment (Foreign Media Ownership, Community Radio and Other Measures) Bill 2017.

Among other measures, the bill once enacted, establishes a Register of Foreign Ownership of Media Assets (Register), to be overseen and administered by the Australian Communications and Media Authority (ACMA). Foreign persons would be required to register information about their company interests in Australian media companies, where the company interests exceed a specified threshold (two and a half per cent).

Regulation Impact Statement – Department of Communications and the Arts

On 28 March 2018 the Government introduced the Interactive Gambling Amendment (Lottery Betting) Bill 2018 to ban online betting on the outcome of a lottery.

Lottery betting services allow customers to bet on the outcome of a lottery draw without the need to purchase a ticket in the official lottery draw. These services match prizes for each tier including the jackpot that the official lottery operator would have paid to a customer if they had won with an official lottery ticket through that service.

The Department of Communications and the Arts prepared a Regulation Impact Statement (RIS), which was assessed by the Office of Best Practice Regulation (OBPR) as compliant and best practice under the Governments RIS requirements.

The Department estimated the change in regulatory burden at $150,000. The OBPR agreed to this estimate.

Decision Regulation Impact Statement – Australian Building Codes Board

On 22 November 2018, the Australian Building Codes Board (ABCB) agreed to amend the deemed-to-satisfy (DtS) provisions of the National Construction Code to require fire sprinkler systems in new Class 2 and 3 residential buildings of four or more storeys and less than 25 metres in effective height (generally those buildings four to eight storeys in height).

Regulation Impact Statement – Department of Communications and the Arts

On 6 December 2017, the Government introduced the Communications Legislation Amendment (Online Content Services and Other Measures) Bill 2017.

Among other measures, the bill imposes additional restrictions on gambling promotions during live coverage of sporting events provided on broadcast, subscription and online platforms.

The Department of Communications and the Arts prepared a Regulation Impact Statement (RIS), which was assessed by the Office of Best Practice Regulation (OBPR) as compliant and best practice under the Governments RIS requirements.

Regulation Impact Statement – Department of Communications and the Arts

On 22 June 2017 the Government introduced the Telecommunications Legislation Amendment (Competition and Consumer) Bill 2017 to Parliament.

Amongst other measures, the Bill amends Parts 7 and 8 of the Telecommunications Act 1997 and Part XIC of the Competition and Consumer Act 2010 to enable new superfast networks to operate on a functionally separated basis with the approval of the Australian Competition and Consumer Commissions (ACCC). Under previous arrangements, superfast networks were required to separate structurally in order to provide services to retailers in conjunction with wholesale services. Functional separation allows these entities to avoid the costs associated with structural separation on the condition that the entities functionally separate their wholesale and retail services.

Regulation Impact Statement - Department of the Treasury

On 13 February 2019, the Government introduced the Treasury Laws Amendment (Australian Business Securitisation Fund) Bill 2019 to establish an Australian Business Securitisation Fund (ABSF) to assist the development of the small and medium enterprises (SMEs) securitisation market and improve SME lending conditions.

If enacted, the ABSF will facilitate access to securitised funding and related warehouse funding by lenders (banks and non-bank lenders) to SMEs. This is intended to allow smaller banks and non-bank lenders to compete more effectively against the four major banks, which in turn, may lead to reduced prices in the market, increased diversity of SME lending products and increased access to finance for SMEs.

COAG Decision Regulation Impact Statement – The Australian Building Codes Board

On 18 December 2018, the Australian Building Codes Board (ABCB) released a Council of Australian Governments (COAG) Regulation Impact Statement (RIS) examining the impact of proposed amendments to the National Construction Code to implement separate heating and cooling load limits for assessments subject to the Nationwide House Energy Rating Scheme (NatHERS) compliance pathway for Class 1 and Class 2 dwellings, and Class 4 parts of buildings, in relevant climate zones. This change will be reflected in NCC 2019 and subject to a one year transition, take effect from 1 May 2020.

COAG Decision Regulation Impact Statement – National Transport Commission

On 15 November 2018, the Transport Ministers endorsed the Safety Assurance approach for the introduction of automated vehicles in Australia at first supply.  A Regulation Impact Statement (RIS) considered that the current regulatory environment could result in: