Regulator Performance Guide
The submission to the Department of the Prime Minister and Cabinet in response to the draft Regulator Performance Guide (April 2021) (Draft Guide) recently released for consultation, was prepared by the Corporations Committee, the Competition and Consumer Law Committee and the SME Business Law Committee (Committees) of the Business Law Section of the Law Council of Australia.
Given the government’s intention that the new Regulatory Performance Guide take effect from 1 July 2021, the Committees recognise that there is limited scope, at this late stage, to revisit the approach to improving regulator performance adopted in the Draft Guide or in the broader performance expectation framework within which the Draft Guide sits.
This may be a missed opportunity for government, given the significant lessons about regulator governance and regulatory practice that could have been drawn from, for example, recent Royal Commissions into financial services and aged care.
This submission proceeds in two parts. First, it makes some high-level comments on the purpose and scope of the Draft Guide. Second, it sets out some more specific comments on the Draft Guide.
You can read the full submission below.