• Regulatory Impact Assessment process

    The Regulatory Impact Assessment Program

    The Regulatory Impact Assessment (RIA) program helps agencies to develop efficient and effective regulation that addresses a clear need in the community, and provides assurance to the Government and stakeholders that a proper assessment of options, including consultation with stakeholders has occurred.

    Regulatory Impact Assessment proceeds as follows:

     RIA process chart as explained below

    •  Preliminary Impact Assessment
      • Outline of problem and proposed legislative solution
      • RGU included early in the process of regulatory design
      • PIA lodged electronically
       
    •  Consultation Regulatory Impact Statement
      • Outline problem
      • Discuss nonregulatory and regulatory options
      • Include a benefit cost analysis of options
       
    •  Decision Regulatory Impact Statement
      • Finalisation of the Consultaiton RIS, which must recommend a preferred option
      • Dscussion of implementation plans
      • Outline of review plans
       
    •  Finance submission for approval
      • The Final Regulatory Impact Statement is tabled in parliament or submitted to the government in executive council for approval.