Published Impact Analyses

Independent Review – Department of the Treasury

The Financial Services Royal Commission identified numerous instances where the conduct of members of the banking, superannuation and financial services industry caused considerable detriment to consumers, and that there are systemic roots to much of this conduct. Hence, the Commissioner recommended a broad suite of measures, including regulatory changes, aimed at improving the conduct of the industry and reducing harm to consumers.

On 19 August 2019, the Government released its Financial Services Royal Commission Implementation Roadmap. The Roadmap is one of the first elements of the response and provides timelines for implementing the Government response, giving clarity and certainty to consumers, industry and regulators.

COAG Consultation Regulation Impact Statement – Australian Energy Market Commission

On 26 September 2019, the Australian Energy Market Commission (AEMC) released the draft rule determination for the National Electricity Amendment (Reducing customers’ switching times) Rule and National Energy Retail Amendment (Reducing customers’ switching times) Rule (draft determination) to create market processes that provide faster customer transfer process time and increase transparency and certainty within the customer transfer process. The AEMC has also released the corresponding Draft National Electricity Amendment (Reducing customers’ switching times) Rule 2019 and National Energy Retail Amendment (Reducing customers’ switching times) Rule 2019 for consultation.

The draft rule provides a faster transfer process by:

COAG Consultation Regulation Impact Statement – National Transport Commission

On 27 June 2019, National Transport Commission released a Consultation Regulation Impact Statement (RIS), Developing Technology-Neutral Road Rules for Driver Distraction. The RIS proposes and explores technology-neutral regulatory options to address driver distraction and analyses their potential impacts. Consultation on the RIS closed on 4 September 2019.

The Office of Best Practice Regulation assessed the RIS as compliant in accordance with the Council of Australian Government Best Practice Regulation requirements.

Interactive Gambling Regulations 2001 – Department of Communications and the Arts

On 21 September 2019, the Department of Communications and the Arts remade the Interactive Gambling Regulations 2001 made under the Interactive Gambling Act 2001 under section 61BGA, without significant amendment.

Section 7A of the Interactive Gambling Act 2001 prohibits advertisments for interactive gambling.

The Interactive Gambling Regulations 2001 specifies types of advertisements that are not considered a designated interactive service advertisement, and therefore exempt from this restriction. 

On 12 September 2019, the Assistant Treasurer and Minister for Housing introduced the National Housing Finance and Investment Corporation Amendment Bill 2019 to Parliament. The Bill establishes the First Home Loan Deposit Scheme (FHLDS).

The FHLDS will provide a guarantee on eligible loans equal to the difference between the deposit (of at least 5 per cent) and 20 per cent of the property purchase price, with coverage broadly consistent with a parental guarantee. The FHLDS is intended to support up to 10,000 purchases of dwellings by first home buyers each year, and eligibility criteria incorporates income and regional dwelling price limits.

The RIS was prepared by the Department of Treasury. The RIS has been certified by the Department and assessed as compliant with RIS requirements by the Office of Best Practice Regulation.

Remaking sunsetting instrument without significant amendments – Department of Defence

On 28 March 2019, the Department of Defence (Defence) remade the Defence and Strategic Goods List 1996, which was due to sunset on 1 April 2019, with only minor amendments. The newly remade Defence and Strategic Goods List 2019 (DSGL) will now sunset on 1 April 2029.

The DSGL lists the military and dual-use goods and technology that are subject to Australian export control regulation. The content of the DSGL is primarily drawn from regularly updated control lists of four international export control regimes to which Australia is a member:

Prohibiting energy market misconduct

On 18 September 2019, the Government reintroduced the Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019 to establish a legislative framework to address misconduct identified by the Australian Competition and Consumer Commission’s (ACCC) Electricity Price Monitoring Inquiry.

The Bill was previously tabled in December 2018, and was accompanied by a Regulation Impact Statement (RIS) that had been assessed by the OBPR.

The current Bill (2019) contains amendments to the Bill (tabled in 2018) that clarify the operation of the Bill and improve the ability of companies and regulators to implement it.

The amendments include:

COAG Consultation Regulation Impact Statement – Australian Energy Market Commission

On 15 August 2019, the Australian Energy Market Commission (AEMC) released the draft rule determination for the National Electricity Amendment (Threshold for Participant Compensation Following Market Intervention) Rule 2019 (draft determination). The AEMC has also released the corresponding Draft National Electricity Amendment (Threshold for Participant Compensation Following Market Intervention) Rule 2019 for consultation.

COAG Consultation Regulation Impact Statement – Australian Energy Market Commission

On 15 August 2019, the Australian Energy Market Commission (AEMC) released the draft rule determination for the National Electricity Amendment (Application of the Regional Reference Node Test to the Reliability and Emergency Reserve Trader) Rule 2019 (draft determination) to create transparency, predictability and consistency for the market, and remove as far as possible the need for Australian Energy Market Operator (AEMO) to exercise discretion in determining how to apply the test. The AEMC has also released the corresponding Draft National Electricity Amendment (Application of the Regional Reference Node Test to the Reliability and Emergency Reserve Trader) Rule 2019 for consultation.

COAG Consultation Regulation Impact Statement – Australian Energy Market Commission

On 5 September 2019, the Australian Energy Market Commission (AEMC) released the draft rule determination for the National Gas Amendment (DWGM Improvement to AMDQ Regime) Rule 2019 (draft determination). This is to amend the National Gas Rules to replace the current authorised maximum daily quantity (AMDQ) regime in the Victorian declared wholesale gas market (DWGM) with a new entry and exit capacity certificates regime. The AEMC has also released the corresponding Draft National Gas Amendment (DWGM Improvement to AMDQ Regime) Rule 2019 for consultation.

The Commission's draft rule will: