ABSIA submitted to the Treasury's Modernising Business Communications - Improving the Technology Neutrality of Treasury Portfolio Laws consultation on 28 February 2021.
This submission outlined ABSIA's support for this work to make relevant legislation technology neutral. In summary, this submission covered the following points:
- Current business communication requirements do create a burden for businesses which is why ABSIA supports the second option outlined on page 3 of the consultation paper. Maintaining the status quo is not an option and legislation should be updated to reflect current and future technology being used by businesses and consumers;
- Ensuring that legislation is technology neutral will be important moving forward to ensure that legislation will support future technology solutions;
- We anticipate that changing Treasury laws to be technology neutral will result in significant savings for a number of businesses;
- We agree with the categories of communications outlined in the consultation paper but we believe the end goal for the Government should be to digitise all communications from regulators;
- We agree with the proposed principles outlined in the consultation paper and encourage Treasury to continue consulting with businesses and consumer if the proposed principles change over time;
- The regulatory burden should be on the Government to manage the impact on businesses and consumers. This should include an education campaign to ensure people are aware of the changes; and
- There may be risks with implementation. The risks we have identified are outlined in our response to question 7.
Access a full copy of this submission here.