Published Impact Analyses

Consultation Regulation Impact Statement – COAG Energy Council

On 29 June 2018, the COAG Energy Council released a Consultation Regulation Impact statement (RIS) to explore possible options for addressing climate and energy policy issues in the National Electricity Market.

The RIS examines options including the status quo, a National Energy Guarantee and an Physically Backed Contracts option. The RIS responds to issues around maintaining energy reliability, lowering emissions in line with international policy commitments and improving affordability.

Consultation Regulation Impact Statement – National Transport Commission

On 15 May 2018, the National Transport Commission (NTC) released the Safety Assurance for Automated Driving Systems Regulation Impact Statement (RIS) for consultation. The RIS outlines key risks that may arise when automated vehicles become available including:

1. Automated driving systems (ADS) fail to deliver reasonable safety outcomes.

2. A lack of consumer confidence in the safety of ADSs reduces or delay their uptake.

3. ADS responsible entities face inconsistent and/or uncertain regulatory barriers to the supply of ADSs in the Australian market.

Regulation Impact Statement – Department of Infrastructure, Regional Development and Cities

On 5 June 2018, the Minister for Urban Infrastructure and Cities announced new measures to mandate Electronic Stability Control (ESC) for heavy vehicle trailers from July 2019 and for selected heavy trucks and buses from November 2020. Heavy vehicle rollover and loss of control crashes account for 22 per cent of all heavy vehicle injury crashes in Australia between 2008 and 2010.

Remaking of Sunsetting Instrument Without Significant Amendments – Australian Competition and Consumer Commission

On 23 May 2018 the Australian Competition and Consumer Commission remade the above instruments without significant amendments.  These Instruments were scheduled to sunset on 1 October 2018.

The Digital Radio Multiplex Transmitter Licences (Decision-Making Criteria) Determination 2018 is designed to promote transparency in decision-making by setting out the criteria that the ACCC must apply in deciding whether to accept an access undertaking or a variation of an access undertaking given to it in relation to a digital radio multiplex transmitter licence. The Digital Radio Multiplex Transmitter Licences Procedural Rules 2018 are designed to promote the expeditious and efficient exercise of the ACCC’s functions and powers under Division 4B of Part 3.3 of the Radiocommunications Act 1992.

COAG Consultation Regulation Impact Statement – Legislative and Governance Forum on Consumer Affairs

On 2 May 2018, the Australian Government Department of the Treasury released a Consultation Regulation Impact Statement (RIS) to explore possible options to regulate the expiry period of retail gift cards and vouchers.

The RIS examines options including, the status quo, a prohibition on expiry periods and a mandated minimum three year expiry period with information disclosure requirements. The proposal responds to the issue of loss of value on a gift card which expires unexpectedly or otherwise before it can be used. As the majority of gift cards are bought by someone other than the end user, the recipient may not be adequately informed of the terms and conditions of the card.

Remaking of Sunsetting Instrument Without Significant Amendments - Australian Prudential Regulation Authority

On 21 March 2018 the Australian Prudential Regulation Authority (APRA) remade 34 reporting standards under the Financial Sector (Collection of Data) Act 2001 (FSCODA) without significant amendments. Thirty-three standards apply to authorised deposit-taking institutions and one applies to entities registered under FSCODA known as registered financial corporations. The standards were due to sunset either on 1 April 2018 or 1 October 2018.

The reporting standards collect data for APRA’s supervisory purposes and for statistical purposes, including provision to the Reserve Bank of Australia and the Australian Bureau of Statistics to assist in performing their functions, including producing publicly available reports.

Decision Regulation Impact Statement – COAG Energy Council

On 24 November 2017, the COAG Energy Council agreed to changes to energy efficiency regulation for household refrigerators and freezers.

The changes will tighten Minimum Energy Performance Standard (MEPS) for household refrigerators and freezers to harmonise with MEPS levels adopted by the United States in 2014. In addition, the changes will result in adopting international test standards, rather than the current regional specific Australian and New Zealand test standards, and provide consumers with more representative and comparable information on the in-home energy efficiency of refrigerators and freezers.

Regulation Impact Statement – Department of Health

On 28 March 2018, the Government introduced three Bills into the Parliament as part of implementing reforms to private health insurance announced by the Government on 13 October 2017.

The Private Health Insurance Legislation Amendment Bill 2018, the A New Tax System (Medicare Levy Surcharge – Fringe Benefits) Amendment (Excess Levels For Private Health Insurance Polices) Bill 2018 and the Medicare Levy Amendment (Excess Levels for Private Health Insurance Policies) Bill 2018 seek to make private health insurance policies more understandable and provide better value to consumers, while also helping to reduce costs for health insurers.

Independent Review (RIS-like process) – Department of Foreign Affairs and Trade

On 26 March 2018 the Government tabled the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP-11). The TPP-11 Agreement incorporates the provisions of the Trans-Pacific Partnership (TPP) Agreement by reference, with the exception of a limited set of provisions which are suspended. The original TPP is a regional trade agreement between twelve countries, including Australia. However, the original TPP cannot enter into force without the United States, who does not intend to become a party to the TPP.     

Independent Review – Australian Prudential Regulation Authority

On 23 April 2018, the Australian Prudential Regulation Authority (APRA) released its revised prudential framework for counterparty credit risk for authorised deposit-taking institutions (ADI).