Official website for Published Impact Analyses for decisions announced by the Australian Government, Ministerial Forums and National Standard Setting Bodies.
On 13 September 2017, the Government introduced the Coastal Trading (Revitalising Australian Shipping) Amendment Bill 2017, which is intended to reduce the regulatory burden of the existing Coastal Trading (Revitalising Australian Shipping) Act 2012 and expand coverage to certain additional activities, while maintaining its objectives.
The Australian Securities and Investments Commission remade, without significant amendment, the ASIC Class Order CO 03/1063, ASIC Class Order CO 11/926, and ASIC Credit (Financial Counselling Agencies) Instrument 2015/992.
ASIC CO 03/1063 exempted financial counselling agencies from the requirement to hold an Australian financial services licence when providing certain types of financial product advice as part of their financial counselling service subject to a range of conditions.
ASIC CO 11/926 provided that a rural financial counsellor does not need to hold an Australian credit licence (credit licence) to provide credit assistance in the context of a rural financial counselling service.
Independent Review – Department of the Treasury
On 14 September 2017, the Government introduced the Treasury Laws Amendment (Putting Consumers First – Establishment of the Australian Financial Complaints Authority) Bill 2017.
On 14 September 2017 the Government introduced the Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 to Parliament.
On 25 August 2017, the Minister for Agriculture and Water Resources released for consultation a Regulation Impact Statement (RIS) on proposed reforms to agricultural export legislation, along with a consultation draft of the Export Control Bill.
The proposed reforms are intended to make the export legislative framework easier to understand, administer and use, and will help safeguard Australia’s reputation as a reliable, high-quality source of exports for trading partners.
Details of the consultation process can be found on the Department’s website. The consultation period closes on 24 October 2017.
On 22 June 2017, the Government introduced legislation to repeal the Tradespersons’ Rights Regulation Act 1946 (TRR Act), the principal legislation underpinning the Australian Recognised Trade Certificate Program (ARTC Program). This was the final stage of replacing the ARTC Program with the Trades Recognition Service (TRS), originally agreed to in 2013 by the former Government and first recommended in 1998.
On 17 August 2017, the Government introduced the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017 to Parliament.
On 1 March 2013, the then Prime Minister granted an exemption from Regulation Impact Statement (RIS) requirements due to exceptional circumstances in relation to options for amending the Environment Protection and Biodiversity Act 1999 to allow for the assessment of the impacts of coal seam gas and large coal mining developments on water resources (water trigger resources).
A post-implementation review (PIR) assessing the water trigger measures has been prepared by the Department of the Environment and Energy and has been assessed as compliant by the OBPR.
On 10 August 2017, the Deputy Prime Minister announced a levy for the thoroughbred horse industry consistent with its 2016 election commitment. The levy will commence on 1 September 2017.
The levy will give the industry greater certainty about investment in priority long-term research and development, targeting better disease control, stronger foals and horse welfare measures. The Government will match the industry's contributions up to $400,000 per year.
On 27 March 2017, the Department of Health remade the Private Health Insurance (Lifetime Health Cover) Rules 2017 (the Rules).
The Rules set out administrative matters relating to lifetime health cover, such as the categories of people who are taken to have hospital cover and the provision for suspension of hospital cover. The Rules set out the notification of information requirements for adult insured persons, adults who apply for hospital cover, and information given by one private health insurer to another. The Rules also provide for the kinds of conclusive evidence of hospital cover or age.