What is RIA?
Regulatory Impact Assessment (RIA) is a tool to analyze the likely effects of a proposed new regulation or regulatory change. It involves a detailed analysis to ascertain whether or not the new regulation would have the desired impact. It helps to identify any possible side effects or hidden cost associated with regulation and to quantify the likely cost compliance on citizens or businesses. It also helps to clarify the enforcement cost implications to the Royal Government. RIA can enhance the quality of law making in social and economic areas, system of governance, improve the capacity and performance of the public service.
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11 Steps of RIA.
1. The first step is the preparation of Regulatory Forward Plan by sectors proposing new Regulatory Measure or amendments to a Regulatory Measure.
2. The PPDs of the respective sector will then review and approve the Regulatory Forward Plan for publication in the Registry of Regulatory Forward Plans latest by 31st January and 30th June of each year. The Regulatory Forward Plan shall be submitted as per the Format in RIA Guidelines for Submission of Regulatory Forward Plans.
3. For Acts and Bills, the Committee of Secretaries may require a Sector to prepare an Extended RIA Report. For bylaws, the concerned public authorities may require a Sector to prepare an Extended RIA Report. In these cases, a special agreement will be established between the Sector, the RIA Unit and other partners to form a RIA Task Force. The process of preparing an Extended RIA shall follow the same RIA process indicated below.
4. The sector shall prepare a RIA Report.
5. The PPD of the respective Sector shall upon review accept or reject the, draft RIA Report. The accepted draft RIA Report will be sent for publication in the registry of RIA Reports for a period of three weeks. The RIA Report shall be submitted as per the attached Format for submission of RIA Reports.
6. The RIA Unit shall provide shall provide at the end of 3 weeks a Certificate of Publication to the concerned PPD together with a document containing any comments posted in relation to the RIA Report.
7. The finalized RIA Report for bylaws will be approved by the Head of the relevant public authority whereas the draft RIA Report for the Acts and Bills shall be submitted to the COS for approval.
8. The Sector shall then prepare the draft Regulatory Measure which will be submitted to the concerned authority for approval according to current process.
9. In the case of bylaws the Minister or Head of the concerned public authorities approves the draft bylaws and shall direct the approved bylaws to be published in the Registry of Regulatory Measures which have undergone the RIA process (end of process)
10. For all other draft Regulatory Measures, the enactment process follows current practices with additional requirements of the final RIA report and a copy of the Certificate of Publication.
11. In the case of the Regulatory Measure referred to in step 10, the respective ministry, commission or agency shall send the approved Regulatory Measure to be published in the Registry of Regulatory Measures which have undergone the RIA process.