34Preparation of regulatory impact statements

34 Preparation of regulatory impact statements (1) If a proposed subordinate law or disallowable instrument (the proposed law) is likely to impose appreciable costs on the community, or a part of the community, then, before the proposed law is made, the Minister administering the authorising law (the administering Minister) must arrange for a regulatory impact statement to be prepared for the proposed law. (2) However, this section does not apply to the proposed law if the administering Minister exempts the proposed law from subsection (1). Note Section 32 and s 36 also state other circumstances when a regulatory impact statement is not required. (3) An exemption under subsection (2) (the RIS exemption) is a Note A disallowable instrument must be notified, and presented to the Legislative Assembly, under this Act. (4) If the RIS exemption is disallowed under this Act after the proposed law has been made, the administering Minister must arrange for a regulatory impact statement to be prepared for the subordinate law or (5) The regulatory impact statement prepared under subsection (4) must be presented to the Legislative Assembly not later than 5 sitting days after the day the RIS exemption is disallowed. (6) This chapter (other than section 37 (When must regulatory impact statement be presented?)) applies to the law as if the law were a proposed subordinate law or disallowable instrument.

Part 5.2 Requirements for regulatory impact statements