It also aims to improve regulator performance in the context of facilitating increased business investment and economic activity in Victoria.
This policy also forms part of the Government’s program to reduce red tape affecting businesses, not‑for‑profit organisations, government service providers and households.
The SOE Framework will be implemented in two tranches that will lead to a rolling schedule of biennial SOEs. New SOEs will set performance and governance objectives to be implemented by Victorian business regulators over two years. This will require regulators to improve their performance and move towards best practice, particularly around timeliness, risk-based strategies and compliance related assistance and advice. Each SOE will be evaluated by the responsible department at the end of the two year implementation period.
These guidelines will assist departments, on behalf of Ministers, to prepare an SOE letter under the SOE Framework. It is a requirement that regulators publish their SOE letter and response on their website.
These guidelines will assist departments to evaluate the SOEs of the regulators within their portfolios. This is required under the SOE Framework.
During the transition period, existing Stage Two SOEs may be carried over or reissued until a new SOE can be issued under the SOE Framework. Stage Two SOEs should remain consistent with the Stage Two Guidelines.