DEREGULATION – GOVERNMENT POLICY – AUSTRALIA

Red tape war raises the bar for regulators

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Original article by Damon Kitney
The Australian – Page: 19 : 29-Oct-14

The Australian Government will on 29 October 2014 issue its response to the Productivity Commission’s review of the relationship between regulators and small business. There will be half a dozen new performance indicators against which agencies such as the Australian Competition & Consumer Commission, Australian Securities & Investments Commission, Australian Taxation ­Office and Australian Prudential Regulation Authority will be gauged. The Business Council of Australia and Australian Chamber of Commerce & Industry had lodged submissions to the inquiry

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN TAXATION OFFICE, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Miners see progress but call for more cuts to red tape

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Original article by Annabel Hepworth
The Australian – Page: 21 : 23-Oct-14

Australian Prime Minister Tony Abbott and parliamentary secretary for deregulation Josh Frydenberg on 22 October 2014 unveiled a move to abolish 7,000-plus pages of unnecessary legislation, in a further bid by the Government to reduce "red tape". However the Minerals Council of Australia, while welcoming the initiative, also issued a report that outlines areas where more reforms are still needed. These include industrial relations, environmental approvals and rules governing cabotage. It notes that from late 2007 to mid-2013 only 297 ­federal acts were repealed but 874 new ones rolled out

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, THE AUSTRALIAN INDUSTRY GROUP

Tide of regulation is still coming in, directors warn

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Original article by Annabel Hepworth, Andrew White
The Australian – Page: 23 : 21-Oct-14

A business leaders’ forum has heard that despite recent positive efforts by the Australian Government, the burden of excessive regulation is still increasing. Among the examples cited was the likely tightening of capital requirements for banks after the financial system inquiry hands down its report. It was also noted that many smaller companies are better served by abandoning a sharemarket listing and instead operating in the less restrictive privately-held sector. However others argued that corporate boards must adapt to changing values and expectations to remain relevant in modern society

CORPORATES
AUSTRALIA. FINANCIAL REPORTING COUNCIL, AGL ENERGY LIMITED – ASX AGK, MACQUARIE GROUP LIMITED – ASX MQG, RESERVE BANK OF AUSTRALIA, EVANS AND PECK PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, COCHLEAR LIMITED – ASX COH, BEYOND BANK AUSTRALIA, COMMUNITY CPS AUSTRALIA LIMITED, EQUITY TRUSTEES LIMITED – ASX EQT, GROUP OF TWENTY (G-20), ARRIUM LIMITED – ASX ARI, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. CORPORATIONS AND MARKETS ADVISORY COMMITTEE