Industry Portfolio’s items

The Industry Portfolio’s items for the first Repeal Day, on 26 March 2014, and those leading up to the first Repeal Day included:

  • A streamlined approach for offshore petroleum environmental approvals, as announced by the Minister and the Hon Greg Hunt MP, Minister for the Environment on 28 February 2014. The approach will reduce regulatory burden and boost business productivity while maintaining high environmental standards. The savings for industry and environmental groups is worth an estimated $120 million per year. The announcement is available at: http://minister.industry.gov.au/ministers/macfarlane/media-releases/.
  • Introduction of the Intellectual Property Laws Amendment Bill 2014 to implement a package of measures that will make the Australian intellectual property system more efficient and less complex by reducing unnecessary regulatory requirements. Patent attorneys will now be able to practice in both Australia and NZ through a single registration process. Also, a new option for patent applicants will be to use a one-stop-shop between the two countries to assess future patent applications. This will save time and effort, while producing separate patents for each country. The Department of Industry estimates agreed that the new patent attorney regime will lead to an annual saving of $14,420 in compliance costs.
  • The intention to remove the requirement for the Australian Industry Opportunity Officers to avoid increased costs of nearly $4 million per year for companies with projects of $2 billion or more that are expected to apply for the Enhanced Project By‑law Scheme.