A Standard Cost Model (SCM) was prepared to ensure corporate licenses effectively reduced regulatory burden in line with the Government's Red Tape reduction target of $500 million by 2012. The purpose of the SCM is to measure the ‘administrative costs’ (being the costs associated with demonstrating compliance with the Regulation) and to measure savings associated with the introduction of corporate licences. The SCM was developed in accordance with the Victorian Guide to Regulation and as such, the final report was assessed by the Victorian Competition and Efficiency Commission (VCEC). The VCEC verified the adequacy of the change in administrative burden and the SCM report demonstrates a reduction in the administrative burden of $2.81 million per annum (see VCEC final assessment letter).
Licences and approvals
Number of pages:
31 Oct 2009
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