Lawlink NSW: APPENDIX A - TERMS OF REFERENCE

Review of the draft Trustee Corporations [Name of State or Territory] Bill 2001

APPENDIX A - TERMS OF REFERENCE

1. The review of the Trustee Corporations [Name of State or Territory] Bill 2001 shall be conducted in accordance with the principles for legislation reviews set out in the Competition Principles Agreement. The guiding principle of the review is that legislation should not restrict competition unless it can be demonstrated that:

(a) the benefits of the restriction to the community as a whole outweigh the costs, and

(b) the objectives of the legislation can only be achieved by restricting competition.

2. Without limiting the scope of the review, the review is to:

(a) clarify the objectives of the legislation, and their continuing appropriateness;
(b) identify the nature of the restrictive effects on competition;
(c) analyse the likely effect of any identified restriction on competition on the economy generally
(d) assess and balance the costs and benefits of the restrictions identified, and
(e) consider alternative means for achieving the same result, including non-legislative approaches.

3. When considering the matters in (2), the review should also:

(a) identify any issues of market failure which need to be, or are being addressed by the legislation, and

(b) consider whether the effects of the legislation contravene the competitive conduct rules in Part IV of the Trade Practices Act 1974 (Cth) and the NSW Competition Code.

4. The review shall consider and take account of relevant regulatory schemes in other Australian jurisdictions, and any recent reforms or reform proposals, including those relating to competition policy in those jurisdictions.

5. The review shall consult with and take submissions from trustee corporations, consumers of trustee corporation services, members of the legal profession, various State and Territory Public Trustees, academics and interested persons and other interested parties.

| Previous Page | Back to LAP | Top of Page |

The information contained on this page is not legal advice. If you have a legal problem you should talk to a lawyer before making a decision about what to do. The information on this page is written for people resident in , or affected by, the laws of New South Wales, Australia only.

most recently updated 14 June 2001