13 August 2014

Environmental valuation and uncertainty research report

This research report has been produced by the Office of Best Practice Regulation (OBPR), a division of the Department of the Prime Minister and Cabinet, in consultation with the Department of Environment. It was prompted by a recognised need to improve the quality of guidance material relating to environmental valuation in regulatory impact analysis, and through discussions with community organisations.

Its aim is to enhance the capacity of Australian Government departments and agencies to undertake cost-benefit analysis of policies that are likely to have an environmental impact, or that are characterised by significant uncertainty. The particular emphasis in this report is on the preparation of Regulation Impact Statements. However, the relatively general nature of the document means it is likely to be of use to a broader audience, including policy officers in other jurisdictions working on initiatives that require environmental valuation.


13 August 2014

Post-implementation reviews guidance note

The Office of Best Practice Regulation (OBPR) has published a range of guidance material associated with the Australian Government Guide to Regulation.

Australian Government agencies must undertake a post-implementation review (PIR) for all regulatory changes that have major impacts on the economy. PIRs must also be prepared when regulation has been introduced, removed, or significantly changed without a regulation impact statement.

This guidance note provides more information on PIR requirements.


13 August 2014

Environmental valuation guidance note

The Office of Best Practice Regulation (OBPR) has published a range of guidance material associated with the Australian Government Guide to Regulation.

This guidance note provides advice on incorporating environmental impacts and uncertainty into regulatory impact analysis. It should be read in conjunction with the Guide to Regulation and the Council of Australian Governments best practice regulation: A guide for ministerial councils and national standard setting bodies.


13 August 2014

Regulatory Burden Measurement framework guidance note

The Office of Best Practice Regulation (OBPR) has published a range of guidance material associated with the Australian Government Guide to Regulation.

All regulatory costs, whether arising from new regulations or changes to existing regulation, must be quantified using the Regulatory Burden Measurement framework. The framework must also be used for quantifying offsetting regulatory savings, where applicable.

This guidance note provides advice on how to calculate regulatory costs using the Regulatory Burden Measurement framework.


13 August 2014

Australian Government Guide to Regulation – Guidance Notes

The Office of Best Practice Regulation has today published a range of guidance material associated with the Australian Government Guide to Regulation. The purpose of these guidance notes are to assist policy makers on particular aspects of preparing a Regulation Impact Statement (RIS) or Post-implementation review.

These documents will be updated from time to time as necessary to support the Guide to Regulation.

The full list of guidance notes is:

  1. User Guide to the Australian Government Guide to Regulation
  2. Best practice consultation guidance note
  3. ‘Is a RIS required?’ form
  4. Carve-outs guidance note
  5. Regulatory Burden Measurement framework guidance note
  6. Cost-benefit analysis guidance note
  7. Individuals guidance note
  8. Commonwealth programmes guidance note
  9. Short Form RIS templates guidance note
  10. Competition and regulation guidance note
  11. Risk analysis in regulation impact statements guidance note
  12. Environmental valuation guidance note
  13. Community organisations guidance note
  14. Trade impact assessments guidance note
  15. Independent reviews and the RIS process guidance note
  16. Sunsetting legislative instruments guidance note
  17. Post-implementation reviews guidance note

The Guidance notes can be downloaded from the DPMC website.


6 August 2014

Streamlining Disclosure and Liability Requirements– Details-stage Regulation Impact Statement – The Treasury

On 15 May 2014 legislation was introduced into Parliament to reduce disclosure requirements and company Directors’ risk in relation to the issuance of simple retail corporate bonds.

Previously, the Corporations Act required a corporation to prepare a full prospectus for the offer of corporate bonds to retail investors. Additionally, a Director had liability for any misstatement in, or omission from, the disclosure document irrespective of whether the Director was involved in the misstatement or omission.

The RIS considers that the relatively onerous disclosure and liability requirements have resulted in an unnecessarily low number of simple retail corporate bonds being issued. Consequently, the RIS proposes to limit the disclosure obligations by introducing a 2-part prospectus for certain bond issuances. The 2-part prospectus is structured accordingly into a base component and an offer-specific component:

  • Base: the base component can be used for three years and contains general information that is unlikely to change significantly over three years about the issuer and the bond issue.
  • Offer-specific: for each fund raising tranche, issuers will need to provide a second document outlining the key details of the offer, that being the offer-specific prospectus.

The changes also limit the application of the Directors’ liability requirements.

It is considered that these changes will reduce the costs of issuing simple retail corporate bonds, and consequently increase the number of these bonds that are issued.

The RIS estimates that the regulatory cost reductions will be zero. This is because no corporate entities intended to issue retail corporate bonds in the future under the previous regulatory regime.

Consistent with the best practice regulation requirements, a Details-stage RIS was prepared by the Treasury and assessed as adequate by the Office of Best Practice Regulation.

 


1 August 2014

Radiotelecommunications regulations – remaking of sunsetting instruments without amendments

The Australian Communications and Media Authority (ACMA) have decided to remake two sunsetting legislative instruments without significant amendments: the Radiocommunications (Compliance Labelling – Electromagnetic Radiation) Notice 2003 and the Radiocommunications (Electromagnetic Radiation – Human Exposure) Standard 2003.

In line with the Australian Government best practice regulation requirements for sunsetting legislative instruments, the ACMA has assessed the operation of these instruments in consultation with affected stakeholders and interest groups, and have certified that these instruments are operating efficiently and effectively.


29 July 2014

Best practice consultation guidance note

The Office of Best Practice Regulation (OBPR) has published a range of guidance material associated with the Australian Government Guide to Regulation.

This guidance note provides additional detail on the application of the whole-of-government consultation principles outlined in the Guide to Regulation, as well as the role of OBPR in encouraging best practice consultation processes.

 


29 July 2014

User Guide to the Australian Government Guide to Regulation

The Office of Best Practice Regulation (OBPR) has published a range of guidance material associated with the Australian Government Guide to Regulation.

This User Guide is designed to be read alongside the Guide to Regulation. It provides detail on the specifics of developing your Regulation Impact Statement (RIS) and having it assessed by the OBPR.

Among other things, this guide will help you decide what type of RIS to undertake and provide helpful step-by-step advice.


25 July 2014

Biosecurity Legislation - Regulation Impact Statement – Department of Agriculture

On 7 July 2014, the Government announced plans to progress the Biosecurity Bill 2014 to replace the Quarantine Act 1908.

The proposed biosecurity legislation is designed to reduce unnecessary red tape and provide a more flexible risk based approach to compliance.

The reforms will lead to better outcomes for business and Australia’s biosecurity risk management. The legislation builds on and expands the existing benefits to the Commonwealth and industry members by improving partnerships to manage biosecurity risk and allowing industry to contribute to managing biosecurity risk in return for a commercial advantage.

The Office of Best Practice Regulation (OBPR) has agreed that the estimated regulatory cost savings is $6.9 million per annum. This is due to clearer, easier to use legislation and improved processes. However the compliance cost burden on some industry participants is estimated to increase. This is primarily through the increased regulation to manage the biosecurity risk associated with ballast water by domestic vessel movement.

A Regulation Impact Statement (RIS) was prepared and certified by the department under the March 2014 Australian Government best practice regulation requirements, and has been assessed by the OBPR as meeting best practice.