New regulation under the proposed Reducing Regulatory Costs for Business Act, 2017
Regulation - LGIC
Bill or Act:
Reducing Regulatory Costs for Business Act, 2017
Summary of Decision:
The Reducing Regulatory Costs for Business Act, 2017 received Royal Assent on November 14, 2017 and will come into force on January 1, 2018.
In addition to the proposed provisions noted during the consultation period, a provision was included in the final regulation that prevents the government from putting forward regulatory offsets that would compromise the public interest.
The regulation contains the following:
• Definition of "Administrative Costs"
• Details of the Analysis of Regulatory Impact
• Exemptions to the requirement for an Analysis of Regulatory Impact
• Details of the Offset of Administrative Costs
• Restrictions of Offsets where not in public interest
• Exemptions to the requirement for Offset of Administrative Costs
September 15, 2017
Summary of Proposal:
The proposed Cutting Unnecessary Red Tape Act, 2017 would, if passed, enact a new statute entitled Reducing Regulatory Costs for Business Act, 2017. This new statute would implement five new burden reduction initiatives:
• Control of Administrative Costs: Requires that an analysis of regulatory impacts is published and that an offset of new administrative costs imposed on business through regulation is made by reducing existing costs
• Small Business Compliance: Requires the development of less onerous compliance frameworks for small business when creating or amending regulations, if appropriate
• International and National Standards: Requires the adoption of international or national standards when creating or amending regulations, if appropriate
• Electronic Transmission of Documents: Requires that Ministries provide business with the option to submit documents required in order to comply with a regulation electronically
• Recognition of Excellent Compliance: Requires government ministries to develop plans to recognize and reward businesses with excellent compliance records
If the bill is passed, the Ministry of Economic Development and Growth (MEDG) would propose to bring forward a new regulation to support the "Control of Administrative Costs" initiative. This initiative would apply to regulations made or approved by the Lieutenant Governor in Council that impact business.
The proposed regulation would contain the following:
•Definition of "Administrative Costs"
•Details of the Analysis of Regulatory Impact
•Exemptions to the Analysis of Regulatory Impact
•Details of the Offset of Administrative Costs
•Exemptions to the Offset of Administrative Costs
For additional information on these proposals, please see the attached document under "Further Information."
250 Yonge Street, 35th Floor
January 1, 2018