EXPLANATORY STATEMENT

Migration Regulations 1994

AREAS FOR BUSINESS INNOVATION AND INVESTMENT (PERMANENT) VISA AND

STATE AND TERRITORY SPONSORED BUSINESS OWNER VISA

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

1. This Instrument is made under subparagraph 888.226(b)(i) and paragraph 892.213(3)(b) of Schedule 2 to the Migration Regulations 1994.
2. Subparagraph 888.226(b)(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 all regional or low population growth metropolitan areas.
4. The Instrument operates to expand the operation of the current Instrument to include the new Subclass 888 (Business Innovation and Investment (Permanent)) visa.  The areas specified by postcode remain unchanged.
5. Consultation was undertaken before the Instrument was made with a wide range of Commonwealth Government Departments, State/Territory Government Departments, representative peak bodies for Migration Agents and the legal profession, and other relevant organisations.
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 12/032 commences on 1 July 2012 immediately after the commencement of the Migration Amendment Regulation 2012 (No. 2).