Good Regulatory Practices (GRP) refers to a formalized, mandatory, whole-of-government policy, that defines the common and transparent rules by which regulatory agencies develop technical regulations for all regulated sectors (i.e., cross-sector, transverse, horizontal, foundational) following international standards. GRP is the quality control mechanism for the development of regulations, ensuring on a continuous and systematic basis that government rules are relevant, of the highest quality, cost-effective, internationally aligned and least economically restrictive amongst alternatives of the same purpose.
Elements of Good Regulatory Practices(1):
(1) APEC, USMCA and industry recommendations:
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