EXPLANATORY STATEMENT

Migration Regulations 1994

AREAS FOR BUSINESS INNOVATION AND INVESTMENT (PERMANENT) VISA AND

STATE AND TERRITORY SPONSORED BUSINESS OWNER VISA

(Regulation 888.226(2)(c)(i) and 892.213(3)(b))

1. This Instrument is made under subparagraph 888.226(2)(c)(i) and paragraph 892.213(3)(b) of Schedule 2 to the Migration Regulations 1994.
2. Subparagraph 888.226(2)(c)(i) of Schedule 2 to the Regulations provides that an applicant must reside in Australia in an area specified by the Minister in writing.  Paragraph 892.213(3)(b) provides that an applicant must reside, and operate the applicant’s main business or businesses in Australia in an area specified by the Minister in an instrument in writing.
3. The purpose of the Instrument is to specify areas in which an applicant must reside and operate the applicant’s main business or businesses.  These areas are classified as regional or low population growth metropolitan areas.
4. The Instrument operates to correct the reference to the Schedule 2 provision which provides that the applicant must reside in an area specified by the Minister in an instrument in writing.  This provision is 888.226(2)(c)(i).

5. Pursuant to subsection 18(1) of the Legislative Instruments Act 2003 consultation was not necessary.  The Instrument is of a minor or machinery nature and does not substantially alter existing arrangements.

6.                   The Office of Best Practice Regulation was consulted and has advised that a Regulatory Impact Statement is not required (OBPR Reference 2011/13095).

7.                   Under section 44 of the Legislative Instruments Act 2003 the Instrument is exempt from disallowance and therefore a Human Rights Statement of Compatibility is not required.

8.                   The Instrument, IMMI 12/118 commences on 24 November 2012 immediately after the commencement of the Migration Legislation Amendment Regulation 2012 (No. 5).