Published Impact Analyses

Regulation Impact Statement – Department of Communications and the Arts

On 15 June 2017 the Government introduced the Broadcasting Legislation Amendment (Broadcasting Reform) Bill 2017 to Parliament.

Regulation Impact Statement – Department of the Treasury

On 19 October 2017, the Government introduced the Treasury Laws Amendment (Banking Executive Accountability and Related Measures) Bill 2017 to establish a strengthened responsibility and accountability framework for the most senior and influential executives and directors in Authorised Deposit-taking Institutions (ADIs) and their subsidiaries – the Banking Executive Accountability Regime (BEAR).

Key features of BEAR:

• ADIs are required to register their accountable persons – the senior executives and directors who influence the conduct and behaviours of staff – with the Australian Prudential Regulation Authority (APRA).

• Accountability obligations, including standards of behaviour and conduct, are specified for accountable persons.

Regulation Impact Statement – Department of the Treasury

On 14 September 2017, the Government introduced the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Bill 2017, which among other things contains a proposal to require superannuation funds to hold annual members’ meetings (AMMs).

The proposal seeks to increase engagement of members with their superannuation funds and the accountability of fund trustees. Accordingly, the AMMs are intended to discuss the key aspects of the fund and provide members with a forum to ask questions about all areas of the fund’s performance and operations. The requirement gives trustees flexibility over how AMMs are conducted, including through holding virtual meetings.

Regulation Impact Statement – Department of Industry, Innovation and Science

On 13 September 2017, the Government introduced the Customs Amendment (Anti-Dumping Measures) Bill 2017, which is intended to provide legal certainty to use additional methodologies to determine an export price for goods subject to an anti-dumping measures review where the foreign exporter does not export the goods, or exports low volumes, during the review period.

The change addresses situations where the actions of a foreign exporter during the period examined for the purpose of the anti-dumping measures review mean that the export price of the goods cannot be reliably determined. These actions result in the application of reduced rates of duty, as provided for by the existing law, that do not remedy the effects of dumping.

During 3 to 24 October 2017 the Department of Employment undertook targeted confidential consultation on proposed amendments to the Safety, Rehabilitation and Compensation Act 1988.

The proposed reforms are aimed at improving early intervention and rehabilitation, the effectiveness of claims management and dispute resolution and the quality of medical treatment and household and attendant care.

A Regulation Impact Statement (RIS) was prepared by the Department of Employment for the consultation. The RIS has been certified by the Department and was subject to an early assessment by the OBPR.

Independent Review – Department of Immigration and Border Protection

On 15 June 2017, the Minister for Immigration and Border Protection tabled the Australian Citizenship Legislation Amendment (Strengthening the Requirements for Australian Citizenship and Other Measures) Bill in Parliament.

The Department of Immigration and Border Protection certified the Final Report of the National Consultation on Citizenship entitled Australian Citizenship – Your Right, Your Responsibility as having undertaken a process and analysis equivalent to a Regulation Impact Statement (RIS).

Department of Industry, Innovation and Science

On 27 June 2017 the Australian Government made the Customs (Prohibited Exports) Amendment (Liquefied Natural Gas) Regulations 2017, which implemented the Australian Domestic Gas Security Mechanism (ADGSM).

The ADGSM establishes a framework for restrictions on the export of liquefied natural gas (LNG) from LNG projects, to be imposed where the Resources Minister determines there is a reasonable prospect of a supply shortage in the domestic market. The purpose of the ADGSM is to ensure that there is a sufficient supply of gas to meet the needs of Australian consumers, including households and industry, by requiring, if necessary, LNG exporters which are drawing gas from the domestic market to limit exports or find offsetting sources of new gas.

Regulation Impact Statement for Consultation – Department of the Environment and Energy

On 24 October 2017, the Department of the Environment and Energy released for consultation a Regulation Impact Statement (RIS) on options for a national phase out of perfluorooctane sulfonic acid (PFOS) and its salts.

The consultation RIS proposes a national approach to managing PFOS chemicals to minimise future emissions, in accordance with the standards established by the Stockholm Convention.

Details of the consultation process can be found on the Department’s website. The consultation period closes on 26 February 2018.

The RIS has been certified by the Department and was assessed by the OBPR as suitable for public consultation.

Independent Review – Department of the Treasury

On 19 October 2017 the Government introduced the Treasury Laws Amendment (Banking Measures No 1) Bill 2017 to Parliament.

The Bill amends the National Consumer Credit Protection Act 2009 to introduce reforms to improve consumer outcomes under credit card contracts. These reforms reduce the likelihood of consumers being granted excessive credit limits, align the way interest is charged with consumers’ reasonable expectations and make it easier for consumers to reduce a credit limit or terminate a credit card.

Taxation Administration Regulations 2017 – The Treasury

On 21 September 2017, the Treasury remade the Taxation Administration Regulations 2017 (the Regulations) under section 18 of the Taxation Administration Act 1953 (the Act) without significant amendment.

The Regulations provide compliance requirements in the administrative framework for taxation laws, including the collection and recovery of income tax and other liabilities, appeal processes, payments, enforcement and, rulings.

Consistent with Government best practice regulation requirements for sunsetting instruments, Treasury, after consulting stakeholders, has assessed the Regulations as operating effectively and efficiently.