Content of regulatory impact statements
35 Content of regulatory impact statements
A regulatory impact statement for a proposed subordinate law or disallowable instrument (the proposed law) must include the following information about the proposed law in clear and precise language:
the authorising law;
a brief statement of the policy objectives of the proposed law and the reasons for them;
a brief statement of the way the policy objectives will be achieved by the proposed law and why this way of achieving them is reasonable and appropriate;
a brief explanation of how the proposed law is consistent with the policy objectives of the authorising law;
if the proposed law is inconsistent with the policy objectives of another territory law—
a brief explanation of the relationship with the other law; and
a brief explanation for the inconsistency;
if appropriate, a brief statement of any reasonable alternative way of achieving the policy objectives (including the option of not making a subordinate law or disallowable instrument) and why the alternative was rejected;
a brief assessment of the benefits and costs of implementing the proposed law that—
if practicable and appropriate, quantifies the benefits and costs; and
includes a comparison of the benefits and costs with the benefits and costs of any reasonable alternative way of achieving the policy objectives stated under paragraph (f);
a brief assessment of the consistency of the proposed law with the scrutiny committee principles and, if it is inconsistent with the principles, the reasons for the inconsistency.
This Act’s bill:Explanatory statementSecond reading speech
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