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The Australian Government is reviewing the legislative
framework underpinning Australia's measurement system and is
seeking your input to identify the key issues, challenges and
opportunities, with submissions closing on 30 June
2018.
Uniform measurement plays a vital role in supporting the
Australian economy, as it ensures that Australian businesses have
confidence in the integrity of measurements across key areas of
commerce, including domestic and international trade, land
interests, and high-speed communication networks.
The Australian Department of Industry, Innovation and Science is
conducting the first
comprehensive review of Australia's measurement framework
since the commencement of the National
Measurement Act in 1960. The Act establishes, and provides for
the uniform use of, a system of units and standards of measurement
throughout Australia.
What's prompted a review of Australia's measurement
framework?
The Government recognises that measurement technology has
progressed alongside advances in science, technology and
innovation. In its current form, the Act may not be fit to address
future needs, opportunities or challenges of Australian consumers,
business and industry.
As a result, the Government is calling for views from industry
stakeholders and community groups on the following questions:
What economic and scientific changes are on the horizon which
measurement needs to be prepared for?
What should be the Commonwealth Government's role in
measurement?
What is working well in Australia's measurement
framework?
What would you change about Australia's measurement
framework?
What further views or ideas do you have in terms of reforming
Australia's measurement laws?
Giving your feedback on measurement laws
It is important that Australian businesses contribute their
feedback to the Department of Industry, Innovation and Science by
the closing date of 30 June 2018 to ensure that the Act is
adequately equipped to deal with the future. In an age of
increasing technological disruption, it is crucial that
Australia's measurement framework is updated to deal with
everyday activities in a manner that facilitates innovation,
competition and productivity, minimises business uncertainty and
costs, and promotes best practice regulatory approaches.
Clayton Utz communications are intended to provide
commentary and general information. They should not be relied upon
as legal advice. Formal legal advice should be sought in particular
transactions or on matters of interest arising from this bulletin.
Persons listed may not be admitted in all states and
territories.
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We are beginning to see a trend towards people planning or starting their own cryptocurrency exchanges in Australia.
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