Problems relating to Trade and Investment on Australia

24. Indigested legislation, abrupt changes
Issue	Issue details	Requests	Reference

(1) Frequent Amendments of GOA Policy

- Frequent policy reviews devoid of consistency arising from political turmoil drives business operators into huge amount of funding and a long preparatory development period, which disrupts particularly the infrastructure business, etc. that demand huge investments and a long preparatory period.

- It is requested that GOA constructs its structure capable of maintaining consistent policy over mid-long terms.

(2) Inadequate Legislation on Corporate Merger

- Due to the absence of legislative scheme on merger, the only means available to a purchaser is to succeed from the predecessor, or renew the existing contracts and agreements, which necessitates a lot of extreme complications.

- It is requested that GOA takes step to complete merger legislation, equivalent to the corresponding Japanese legislation.

- The Corporation Act 2001

(3) Abrupt Changes in Taxation Scheme/Delayed Implementing Regulations

- From time to time, abrupt changes in the taxation scheme/royalty occur. Moreover, after the announcement of the outline for legislative change, it takes a long time before the release of the full legislation, in many cases, impacting upon business decisions.

- It is requested that GOA takes step to ensure:
-- provision of opportunities to exchange dialogues with major enterprises including FFEs, and
-- transparency in the process of refining the bill in detail.

(4) Delayed Privatisation

- The delayed privatisation has resulted in immature competitive market.

- It is requested that GOA under its leadership introduces the fundamental principle of the market competition.

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