Regulatory Impact Assessment process at a glance
RIA is a two-tiered process for assessing regulatory proposals, to determine their impacts on business (including Government businesses), consumers and/or the economy.
A Preliminary Impact Assessment (PIA) must first be undertaken on each regulatory proposal to determine its impact on business, consumers and/or the economy. All Cabinet proposals of a regulatory nature and all subordinate legislation made by the Governor in Executive Council require assessment in the form of a PIA.
If the PIA identifies a significant negative impact (see page 13) associated with the regulatory proposal, a Regulatory Impact Statement (RIS) is required to be completed prior to consideration by the decision maker. The RIS process consists of a Consultation RIS and a Decision RIS.
A RIS is not required for regulatory proposals where a PIA has been completed and shows no significant negative impact on business, consumers or the economy.
Proposals that are non-regulatory fall outside the RIA process and assessment under the RIA process is not required.
A Treasurer’s Exemption from the RIA process may be sought at any stage during policy or regulatory development.