Published Impact Analyses

COAG Decision Regulation Impact Statement – COAG Energy Council

On 19 December 2018, the Council of Australian Governments (COAG) Energy Council agreed to implement the Retailer Reliability Obligation (RRO) for the National Electricity Market (NEM).

COAG Decision Regulation Impact Statement – The Australian Building Codes Board

On 21 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 (NCC) to improve energy efficiency in relation to commercial buildings. Amendments to Section J of the NCC will be available for viewing on the ABCB website in February 2019 and subject to a one year transition will take effect on 1 May 2020.

The Decision Regulation Impact Statement (RIS) for this proposal considered the impact of proposed changes to the stringency of energy efficiency provisions in the NCC in relation to commercial buildings (Class 3, 5-9 buildings and common areas of Class 2 buildings).

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 (NCC) to require the construction of separate accessible adult change facilities (AACF) in public buildings including shopping centres and other public assembly buildings.

AACFs are sanitary facilities with additional features to assist people with more profound or complex disability who are unable to use standard accessible facilities independently. NCC 2019 will require the construction of AACFs in the following public buildings:

COAG Decision Regulation Impact Statement – COAG Energy Council

On 19 December 2018, the Council of Australian Governments Energy Council agreed, based on modelled benefits, that minimum energy performance standards (MEPS) and mandatory labelling would be introduced for swimming pool pumps.

The new regulations would commence with a low level MEPS and mandatory labelling requirement, and are expected to be introduced in 2020 - 12 months after Australian Standard AS 5102.1‑2009 is updated with a more reliable and robust method for testing pool pumps. Following a review to consider the effect of MEPS and mandatory labelling on the market, a medium level MEPS would be introduced two years later in 2022.

Regulation Impact Statement – Department of the Treasury

On 28 March 2018, the Government introduced legislation to extend Single Touch Payroll reporting to all employers.

Independent Review - Australian Prudential Regulation Authority

On 12 December 2018, the Australian Prudential Regulation Authority (APRA) released its prudential framework ‘Strengthening Superannuation Member Outcomes’ for registrable superannuation entity (RSE) licensees.

The package consists of a new Prudential Standard SPS 515 Strategic Planning and Member Outcomes, new guidance in the form of Prudential Practice Guide SPG 515 Strategic and Business Planning and Prudential Practice Guide SPG 516 Outcomes Assessment, and a revised Prudential Standard SPS 220 Risk Management.

The framework is designed to strengthen the focus of RSE licensees on delivering quality outcomes for their members, and includes new requirements for RSE licensees to conduct an annual member outcomes assessment as well as making improvements to strategic and business planning and fund expenditure management.

Regulation Impact Statement – Department of Communications and the Arts

On 5 December 2018, the Government announced details of the Universal Service Guarantee (USG).

The USG will use the National Broadband Network (NBN) to ensure all Australian homes and businesses have access to broadband services, and will retain the current Universal Service Obligation (USO) arrangements, using the Telstra copper and wireless networks in rural and remote Australia for the provision of voice services in NBN fixed wireless and satellite areas.

Foreign Financial Services Provider (FFSP) relief instruments - Australian Securities and Investment Commission

On 21 September 2018 the Australian Securities and Investment Commission (ASIC) extended the following instruments, without significant amendments, for a period of 12 months until 30 September 2019:

• ASIC Corporations (Repeal and Transitional) Instrument 2016/396;
• ASIC Corporations (Foreign Financial Service Providers—Limited Connection) Instrument 2017/182; and
• ASIC Corporations (CSSF-Regulated Financial Services Providers) Instrument 2016/1109.

Foreign financial services providers (FFSPs) dealing with Australian wholesale clients are exempt from the requirement to hold an Australian financial services (AFS) license where they are regulated under overseas regulatory regimes that ASIC has assessed as sufficiently equivalent to the AFS licensing regime.

Regulation Impact Statement - Department of the Treasury

On 05 December 2018, the Government made the Insolvency Practice Rules (Corporations) amendment (Restricting Related Creditor Voting Rights) Rules 2018 to amend the Insolvency Practice Rules 2016 (Rules) to combat illegal phoenixing by limiting the ability of phoenix operators to ‘stack’ votes on certain resolutions at creditors’ meetings.

Regulation Impact Statement - Department of the Treasury

On 5 December 2018, the Government introduced the Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2018 to establish a legislative framework to address misconduct identified by the Australian Competition and Consumer Commission’s (ACCC) Electricity Price Monitoring Inquiry.

The legislative framework prohibits conduct by electricity corporations which is detrimental to competition or to consumer welfare.

The Bill establishes prohibitions on certain conduct in electricity retail, contract and wholesale markets. These prohibitions correspond to the three limbs of the ACCC’s ongoing Electricity Price Monitoring Inquiry.