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Retained EU Law (Revocation And Reform) Act 2023

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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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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:
1. moves relevant definitions from section 27 of the SBEE Act into subsection 29(5);
2. replaces the definition of undertaking in 33(6) using the amendment in subsection (2)(a);
3. removing BIT previously contained in sections 21 to 27 of the SBEE from the commencement provisions of other acts.