|On 22 March 2012, the Council of the OECD adopted the Recommendation of the Council on Regulatory Policy and Governance.
The Recommendation is the first international instrument to address regulatory policy, management and governance as a whole-of-government activity that can and should be addressed by sectoral ministries, regulatory and competition agencies.
The impact of the financial and fiscal crisis, and of social change and environmental challenges highlight the importance of sound regulatory frameworks as a basic condition for well-functioning markets and societies, protecting the environment and the promotion of economic growth.
Many topics such as consultation and citizen engagement, regulatory impact assessment, multi-level coherence, risk and regulation, institutional responsibility for policy coherence and oversight, and the role of regulatory agencies are developed more fully and more practically than in the earlier guidance of the 1995 and 2005 OECD principles.
Each of the principles expressed in the Recommendation are recalled and further developed in the Annex to the Recommendation of which it forms an integral part. An appendix provides background notes to each of the principles of the Recommendation to assist the reader to understand the context of the elements in the Recommendation. Together the principles in the Recommendation provide countries with the basis for a comprehensive assessment of the performance of the policies, tools and institutions that underpin the use of efficient and effective regulation to achieve social, environmental and economic goals. Through its work programme, the Regulatory Policy Committee will support countries to implement the principles in the Recommendation.
Participants at the October 2010 international OECD Conference on “Regulatory Policy: Towards a New Policy Agenda” called for new principles. The Recommendation of the Council on Regulatory Policy and Governance was developed by the members of the Regulatory Policy Committee through a thorough process of public and committee engagement during 2011. It underwent a broad public consultation and benefitted from a range of helpful comments from within the OECD and from external sources, in particular from academic commentators, the Business Industry Advisory Council (BIAC) and the Trade Union Advisory Council (TUAC) and a number of OECD Committees. Where the approval of submitters was provided, public submissions have been posted on line here. Following final refinements and revisions, the draft Recommendation was approved by the Regulatory Policy Committee under a written procedure on 16 January 2012 for submission to Council. Council formally adopted the Recommendation on 22 March 2012.
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