Explanatory Memorandum
(Circulated by authority of the Minister for Industry and Science, the Honourable Ian Macfarlane MP)Regulation impact statement
The amendments of this Bill, in conjunction with the non-legislative elements of the Government's reform package, have a minor reduction in regulatory burden. The estimated average annual reduction in regulatory burden of the reform package is $0.1m.
Reducing the deadlines in which businesses can supply this information from 40 to 37 days has a negligible increase on regulatory burden for businesses responding to requests for information following the initiation of an investigation. The amendment creates a negligible education cost.
Businesses will face negligible education costs regarding the minor changes that will be made to the anti-dumping merits review legislation. Participating in the conference represents a minor regulatory increase for parties seeking review, although reductions in the number or scope of reviews as a result of the conference and the ability of the Review Panel to reject grounds will reduce the regulatory burden.
Discontinuing the Forum as a legislated body reduces the compliance burden for member businesses. Education requirements associated with the legislation will also be removed, resulting in a negligible decrease in regulatory burden.
Provisions regarding the lodgement of documents will be standardised and simplified to reduce the complexity of the regulation. This will decrease education related regulatory burden for businesses.
The remaining items of the Bill have nil regulatory impact as they clarify current practices and provide legal certainty.