A Consultation Regulation Impact Statement (RIS) is prepared for consulting interested parties on regulatory proposals. It comprises all formal elements of a RIS. This includes full cost-benefit analysis.
Each Consultation RIS is assessed by the Office of Best Practice Regulation. They provide independent advice on the adequacy of a RIS.
Feedback is invited on any aspect of the analysis. For example, interested parties could provide comment on whether the description of the problem captures the essence of the issues or to suggest other viable options that can address the problem. Interested parties are encouraged to comment on the impacts of the options – both costs and benefits – and how the regulatory proposal will work in practice.
Comments on a Consultation RIS assists the preparation of a Decision RIS for decision-makers. However, a Consultation RIS does not reflect a final decision of the Board.
The ABCB Office reviews all comments received on a Consultation RIS and incorporates stakeholder information and data, as appropriate, into the Decision RIS. Consultation responses are published with the Decision RIS where permission has been provided by the respondent.