Federal Register of Legislation - Australian Government

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IMMI 12/041 Specifications as made
This instrument specifies the minimum number of points for both the Business Innovation Stream and the Investor Stream of the Business Innovation and Investment (Provisional) visa.
Administered by: Home Affairs
Registered 22 Jun 2012
Tabling HistoryDate
Tabled HR26-Jun-2012
Tabled Senate26-Jun-2012
Date of repeal 01 Oct 2022
Repealed by Sunsetting

EXPLANATORY STATEMENT

 

Migration Regulations 1994

 

POINTS FOR BUSINESS INNOVATION STREAM AND INVESTOR STREAM OF BUSINESS INNOVATION AND INVESTMENT (PROVISIONAL) VISA

(Subclauses 188.222(1) and 188.242(1))

 

1.                  This Instrument is made under subclauses 188.222(1) and 188.242(1) of Schedule 2 to the Migration Regulations 1994 (‘the Regulations’).

 

2.                  Subclause 188.222(1) of the Regulations provides that if a person applies for a Subclass 188 visa in the Business Innovation stream the applicant’s score on the business innovation and investment points test is not less than the number of points specified by the Minister in an instrument in writing.

 

3.                  Subclause 188.242(1) of the Regulations provides that if a person applies for a Subclass 188 visa in the Investor stream the applicant’s score on the business innovation and investment points test is not less than the number of points specified by the Minister in an instrument in writing.

 

4.                  The purpose of the Instrument is to specify within a Legislative Instrument rather than the Migration Regulations 1994 the minimum number of points that an applicant for a Subclass 188 (Business Innovation and Investment (Provisional)) visa must score.

 

5.         Consultation was undertaken before this 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 in relation to the new points test 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 commences on 1 July 2012, immediately after the commencement of Migration Amendment Regulation 2012 (No. 2).