Update from the Office of Best Practice and Regulation

Update from the Office of Best Practice and Regulation

Regulation
Tuesday, 30 June 2020

Department of the Prime Minster and Cabinet

June Update - The Office of Best Practice Regulation

Office of Best Practice Regulation (OBPR) released the following reports in June 2020:

Review of the unwanted emission boundary core condition on 3.4 GHz spectrum licenses
The Australian Communications and Media Authority (ACMA) announced changes to the 3.4 GHz spectrum license core condition relating to unwanted emission boundaries. This change entails moving the unwanted emission boundary from 3740 MHz to 3840 MHz.

Introduction of Metering Coordinator Planned Interruptions
The Australian Energy Market Commission (AEMC) released the final rule determination and final rules titled National Energy Retail Amendment (Introduction of metering coordinator planned interruptions) Rule 2020 and National Electricity Amendment (Introduction of metering coordinator planned interruptions) Rule 2020.

Wholesale Demand Response Mechanism
The Australian Energy Market Commission (AEMC) released a final rule determination in relation to the National Electricity Amendment (Wholesale Demand Response Mechanism) Rule 2020.

Franchise relationships between car manufacturers and new car dealers
The Minister for Industry, Science and Technology announced options to address concerns with the power imbalance between car dealers and manufacturers.

Australian content multi-channel obligations for regional broadcasters
The Australian Government introduced legislation to amend the Australian content multi‑channel quota obligation in section 121G of the Broadcasting Services ACT 1992 (BSA). This permits commercial television licensees in regional or remote license areas who are unable to meet the multi-channel quota of 1,460 hours of Australian content in a particular year, to be deemed to have satisfied this obligation in certain circumstances.

Insufficient Regulatory Impact Analysis – Extending Ban on Conflicted Remuneration for Listed Investment Companies and Trusts – The Treasury
The Treasurer, the Hon Josh Frydenberg MP, announced the Australian Government will extend the ban on conflicted remuneration to listed investment companies and trusts (LICs), commencing 1 July 2020. This followed a public consultation on the current stamping fee exemption conducted by the Treasury in early 2020.

Insufficient Regulatory Impact Analysis – Regulation Of Litigation Funders – The Treasury
The Treasurer, the Hon Josh Frydenberg MP, announced Litigation funders would be regulated under the Corporations Act, requiring them to hold an Australian Financial Services Licence (AFSL) and comply with the managed investment scheme regime, commencing three months from the date of the announcement.

Removal of Intervention Hierarchy
The Australian Energy Market Commission (AEMC) released the draft rule determination and draft rule titled National Electricity Amendment (Removal of intervention hierarchy) Rule 2020. 

National register of enduring power of attorney instruments
The Council of Attorneys-General (CAG) agreed to pursue a staged approach to enduring power of attorney reform for financial decisions, first focusing on law reforms to support the establishment of a mandatory national register of enduring power of attorney instruments.

Changes to Intervention Mechanisms
The Australian Energy Market Commission (AEMC) released the draft rule determination and draft rule titled National Electricity Amendment (Changes to intervention mechanisms) Rule 2020.

Visit the OBPR for the full list of Regulatory Impact Statement (RIS) updates.