MCA: business impact target, 2020 to 2021
Reports on the economic impact on business of guidance regulation from the Maritime and Coastguard Agency.
Documents
Details
The business impact target (BIT), is a cross-government regulatory target and statutory report set in each Parliament. Reports are a statutory obligation of the Small Business, Enterprise and Employment Act (SBEE) 2015.
Under the BIT, the Maritime and Coastguard Agency assesses the financial impacts on business of regulatory provisions that come into force or cease to be in force in the reporting period.
Qualifying regulatory provisions (QRP) are changes to regulatory practices as defined in the SBEE Act and include all regulatory provisions that do not fall into certain exclusion categories. The exclusion categories are redefined whenever parliament changes. The impacts of those changes are assessed through BIT assessments.
BIT assessments for QRPs are submitted to the Regulatory Policy Committee (RPC) for validation.
Non-qualifying regulatory provisions (NQRPs) are excluded from the BIT as set out in a written ministerial statement.