(1)  The Minister is to ensure that a regulatory impact statement is prepared in respect of any model by-law (including a model by-law that amends another model by-law) he or she intends to make under section 171(1) .

(2)  Subsection (1) does not apply to any model by-law that is an amendment, to an existing model by-law, that –

(a) is of a minor and technical nature; or

(b) does not significantly alter the purpose or effect of the existing model by-law; or

(c) does not significantly alter the impact on the public of the existing model by-law, as adopted by a council.

(3)  A regulatory impact statement in relation to a model by-law is to include the following:

(a) the objectives of the model by-law and the means by which the model by-law is intended to achieve them;

(b) the nature of any restriction on competition;

(c) an assessment of the costs and benefits of –

(i) any restriction on competition; or

(ii) any impact on the conduct of business;

(d) an identification of the alternative options by which the objectives can be achieved (whether wholly or substantially);

(e) an assessment of the greatest net benefit or least net cost to the community;

(f) an assessment of the direct and indirect economic, social and environmental impact of the model by-law;

(g) details of the proposed public consultation process, if any.

(4)  The regulatory impact statement is to state whether the model by-law is likely to have an impact on business or restrict competition and, if it is, the reason why.