Business Impact Target
Section 18: Abolition of Business Impact Target
- Section 18 amends multiple sections of the Small Business, Enterprise and Employment Act 2015 (SBEE Act) in order to repeal the Business Impact Target.
- As set out in subsection (1), this amendment repeals sections 21 to 27 of the SBEE Act. The impact of this change will be to abolish the Government duty to publish the annual BIT report.
- Subsection (2) covers minor and consequential amendments including:
- moves relevant definitions from section 27 of the SBEE Act into subsection 29(5);
- replaces the definition of undertaking in 33(6) using the amendment in subsection (2)(a);
- removing BIT previously contained in sections 21 to 27 of the SBEE from the commencement provisions of other acts.