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Australian Senate Standing Committee for the Scrutiny of Delegated Legislation - Monitor |
Purpose
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Extends the minimum subscription requirement in the principal class order
by a further six months pending any further regulatory developments
relating to
retail corporate bonds
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Last day to disallow
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4 March 2014
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Authorising legislation
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|
Department
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Immigration and Border Protection
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ISSUE:
Section 17 of the Legislative Instruments Act 2003 directs a rule-maker to be satisfied that appropriate consultation, as is reasonably practicable, has been undertaken in relation to a proposed instrument, particularly where that instrument is likely to have an effect on business. Section 18, however, provides that in some circumstances such consultation may be unnecessary or inappropriate. The explanatory statement (ES) which must accompany an instrument is required to describe the nature of any consultation that has been carried out or, if there has been no consultation, to explain why none was undertaken (section 26). With reference to these requirements, the ES for the instrument contains no reference to consultation [the committee requested further information from the minister; and requested that the ES be amended in accordance with the requirements of the Legislative Instruments Act 2003].
MINISTER'S RESPONSE:
The minister advised that consultation on the instrument was undertaken with all external stakeholder agencies listed at Column 2 of Schedule B to the instrument, as well as internal department stakeholders.
The minister further advised that the ES had been amended to include the information provided.
COMMITTEE RESPONSE:
The committee thanks the minister for his response and has concluded its interest in the matter.
However, to assist with the future preparation of ESs, the committee draws to the minister's attention the committee's guideline on addressing consultation in ESs (reproduced at Appendix 2), and particularly the committee's usual preference for the avoidance of overly general language in describing consultation (such as referring to 'stakeholders' rather than explicitly identifying parties involved in consultative processes).
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URL: http://www.austlii.edu.au/au/other/cth/AUSStaCSDLM/2014/29.html