J. Does the regulation achieve the policy objectives in a manner that minimises the cost for government, business and the community?mpconsulting does not consider that the regulation achieves the policy objectives in a manner that minimises costs.
While a full impact assessment has not been undertaken as part of this review, it is reasonable to conclude that:
- the lack of regulatory clarity is likely to impose unnecessary costs on industry particularly smaller organisations less equipped to deal with the myriad of requirements
- there are processes and obligations which appear to be unnecessary and in turn impose unnecessary costs (both on service providers and on government)
- there is great potential to clarify the intent of the regulation, streamline the regulatory requirements and address redundancy, duplication and excessive regulatory coverage.