Appendix – New RIS Format
Changes italicised.
| Section title |
Required information |
| Executive summary |
- One paragraph of no more than 150 words summarising the problem, the preferred option, and the main impacts.
|
| Regulatory Impact Analysis Unit review and adequacy statement |
- Whether the Regulatory Impact Analysis Unit has reviewed the RIS.
- Whether the RIS is adequate according to the adequacy criteria.
|
| Status quo and Problem |
- Brief, high-level summary of key features of the current situation – not just features of the current regulation.
- Summary of why government action is needed, including why the current arrangements are insufficient to address the problem. This should contain an appropriate level of detail on the status quo's costs and benefits (including compliance costs, risks and opportunities).
|
| Objectives |
- The objectives that options are measured against.
|
| Alternative options (where these were considered) |
For each option that is neither the status quo nor the preferred option:
- Brief, high-level summary of key features of the option.
- Why it is not the preferred option, including an appropriate level of detail on the benefits and costs (including compliance costs, risks and opportunities).
|
| Preferred option |
- Brief, high-level summary of key features of the preferred option.
- Why it is preferred and a statement of all of the proposal's impacts, including an appropriate level of detail on the benefits and costs (including compliance costs).
- A risk assessment with a description of how risks will be/are being mitigated.
- Steps that have been taken to minimise compliance costs, if any.
- A paragraph that briefly describes how the preferred option would impact on the stock of regulation, including whether the proposal overlaps and interacts with existing rules, whether the proposal makes any existing rules redundant, and whether these rules are being removed or altered as part of the proposal.
|
| Implementation and review |
- How the proposal will be given effect, including timetables where available.
- Plans for notifying affected parties of what they need to do to comply with any new requirements.
- The enforcement strategy that is to be implemented to ensure that the preferred option achieves the public policy objective.
- Plans for monitoring and evaluating the preferred option, including key dates if any.
|
| Consultation |
- Who was consulted.
- What the form of consultation was.
- Key feedback from stakeholders and government departments on each of the options considered, with particular emphasis on any significant concerns that were raised about the preferred option, how the department authoring the RIS altered the proposal to address these concerns, and if they did not alter the proposal, why not.
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