Regulatory Frameworks and Compliance

This assignment delves into the world of regulatory frameworks and compliance, covering topics such as airworthiness regulations for unmanned aircraft systems, advanced nurse practice regulation, transatlantic regulatory cooperation, plant-based veterinary vaccines, and occupational regulation. It also touches on business registration and licensing requirements in Australia and Victoria. The importance of regulatory compliance is highlighted through examples from the security industry and the cost of starting a restaurant. This comprehensive assignment provides a thorough understanding of regulatory frameworks and their significance in ensuring safety, quality, and fairness across various industries.

BUSINESS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Registration for setting new business in Australia.................................................................1
Registration for Good and services tax(GST) ......................................................................2
Approval from foreign investment review board...................................................................3
Australian business license and information service(ABLIS)................................................3
Penalties for non compliance and breaching any regulations................................................4
Government requirements and permissions regarding to Alfresco........................................5
Requirements and permits for A frame notice board.............................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business needs to pay attention of many elements for getting sucessl. For setting a new
business regulatory and licensing requirements are essential. Each organisation has to follow
some rules which are made by local government. In this report, importance of registration
requirements will be discussed. The La Carte restaurant will be taken in account which is a
recently owned in the Melbourne CBD(Liu and et.al., 2016). Various legal regulations will be
described in order to understand the way of running the business in country legally. For non-
compliance or breaching any regulation, entity has to pay some potential penalties. These
penalties will also be illustrated in this report.
MAIN BODY
To regulate a business it is so important to know about the monitoring base, financial
funds, men power, number of employees and regulatory and licensing requirements. All these
things are necessary to work ethically in the industry. Basically licensing, permission,
registration depend upon structure and type of business(Clothier and et.al., 2015). The area in
which restaurant located is also an important and impact on overall working of entity. The
political and environmental conditions has to be analysed by the owner in order to run the
business significantly(Licences and registrations, 2017)
Registration for setting new business in Australia
To start a business at a different place, it is required to know about the each step so that
owner of enterprise can run business in Australia successfully. It is necessary to know regulatory
and licensing requirement of business by owner of The La Carte restaurant.
Australian Business Number(ABN)
In Australia registration process includes Australian business number(ABN), individual
tax file number, business tax file number and pay as you go with holding. Australian business
number is a key identification number(Carney, 2015)Licences and registrations, 2017. Business
corporation uses this number in order to deal with the Australian Tax office.. Claiming back
good and services tax credits can be done so easily if entity is having this ABN. Basically La
carte restaurant is a sole trader so it is necessary to have its ABN to operate their business in
Australia smoothly. If they do not register for the Australian business number than service
provider can not be able to deal with ATO which is the chief authority to handle all tax activities
in Australia(Hoekman, 2015).
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Tax File Number(TFN)
It is essential to have Individual tax file number(TFN) by entity. This helps
organisations to deal with administrator tax and other system of Australian government.
Basically it is a nine digit number,Only one TFN number issued by ATO to service provider
and this number never get changed even if circumstances get changed. This supports to sole
trader with employee, to interrelate organisational functions within system of Australian
government. There are two types of TFN number, one is for individual businesses and other one
is for large Businesses(MacDonald and et.al., 2015).
Pay as you go withholding
Pay as you go withholding is a kind of registration that is necessary to have , it is used by
owner when tax is deducted from salary of employee. This is so important for big size
organisations because they have large number of employees. This registration is not needed for
small business or individual firms. La carte is also work as individual entity so there is no need
to register for pay as you go withholding(Licences and registrations, 2017).
Fringe benefit tax
To register a business firm in Australia, corporation has to get registered for Fringe
benefit tax. It is necessary if fringe benefits have bee given to employees by management of
organization. In future if the owner of restaurant wants to increase number of employees then
with the registration of FBT it can enhance its staff members easily(Licences and registrations,
2017).
In context to the costs and expenses of cutlery kitchen plates expenses it depends on per
person or seat and the overall restaurant or both. Moreover, estimated cost of the cutlery kitchen
plates for the whole restaurant will be worth of $40,000 approximately. Furthermore, when
talking about the seats then average cost of per person is worth of $30. The present restaurant is
for the 220 guests under which total expenditures will be worth of $60 * 220 = $13200 (Pace,
2016).
Registration for Good and services tax(GST)
As per the given scenario La carte restaurant is situated in Melbourne CBD. The owner of
this restaurant has purchased this and individual has decided to run it as an individual business.
There will be 220 seats for the visitors with all the basic facilities. Italian food will be served on
the table to the customers. The restaurant has a bar where they will serve beer, wine and spirits.
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BYO will not be allowed because owner do not want that customer have brought their own beer
from outside. The owner of restaurant wants an alfresco area in front of the shop for providing
dinner(Munsie and Pera, 2014).
It is necessary to register for good and services tax to make to operate the business in that
particular area. The amount of GST is collectively more than other taxes so it can impact the
economy but at the other side it increases the credibility of corporation in market. In future
owner wants fund for development in some departments of firms then that credibility will help
him to get the load from banks so easily. Bank will trust GST statement of organisation. By
registering for GST the service provider can deal with their stakeholders. GST certification is the
important to prove that La carte is working legally(Licences and registrations, 2017).
Approval from foreign investment review board
The owner wants an alfresco area in front of shop to serve dinner to customers. For that it
has to take permission from the local government authority. In Australia for owning a property
applicant has to take permissions from residential agencies of Australia. La carte's owner has to
register their application for approval from foreign investment review board. This approval
allows applicant to buy a property in Australia for business purpose. Owner can buy different
types of property such as dwelling, vacant land and place which has to be renovated but before
getting any kind of property it is required to get the official permission from the foreign
investment review board(Borchert and et.al., 2013).
Because La carte restaurant is owned by a person which is already established in
Melbourne CBD, person has to register for all the acts and tax to be located on that place for
lifetime. There are some requirements that has to be achieved by the newly established
organisation. Owner has to take permission from the local land development authority and also
make sure about all the legal documentation process. In documentation process, the restaurant
has to take approval from the food department of government. This will allow the firm to serve
healthy Italian food to their customers(Licences and registrations, 2017).
Australian business license and information service(ABLIS)
Australian business license and information service is a tool which has to be used for
getting required licenses like local licence, state licenses, federal license, different type of
registration and permits. Entity can use some common words or terms for the assessing required
licenses.
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Hospitality services: Owner of La carte can use it for getting permission for running the
business. This is also for taking license for takeaway food operations. In future if the proprietor
wants to start a chain of mobile food van so owner has to take license for such kind of business.
In Australia if an enterprise wants to set new business hospitality sector then owner has to apply
for the license of their required activities(Sweetman, and et.al., 2015).
Electrician: Electricity is the basic requirement to carry over various appliances in
different departments of a corporation. For getting electrical installation it is necessary to get the
license from the local electric board. Their approval is much needed to have the connection of
electricity. For La carte, the entrepreneur has to take this license so it can use their resources for
serving products to their customers(Gartner and Hall, W., 2015).
Licensing and regulatory requirements are needed to establish any new business or to
carry over existing business in a different place. The regulatory requirements are defined as
various official permissions that are necessary to conduct a business in the industry in which
legal documentation, registration for all taxes are required(Licences and registrations, 2017).
When the owner going to open a new restaurant in Melbourne CBD then at the very first
and foremost is it necessary to register legally. In order to register the new firm there are several
rules and regulations along with costs are prepared by regulatory body of Australia country. At
the current scenario new restaurant is a sole trader or proprietary company for which registration
cost is different from public or private firms. According to the “ASIC (Australian Securities and
Investments Commission) Section 201C”, for register an A La Carte restaurant cost is worth of
$469 being a proprietary entity (201 Application for registration as an Australian company,
2017). Apart from this, in order to register the name of company cost is worth of $34 and $80 for
1 and 3 years respectively (Business name registration, 2017).
Penalties for non compliance and breaching any regulations
In case of avoidance of all the rules and regulations organisation has to pay of the
penalties. As per the given scenario proprietor has purchased the restaurant in Melbourne CBD.
So firstly the owner has to register that property on his name(Gartner and Hall, W., 2015). If the
owner has not done with that then during inspection government can take penalties from him.
The punishment can be in form of money or any other. If the property of restaurant is not
approved by foreign investment review board and still the owner is conducting his business then
the owner has to pay penalty.
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On the other side penalties are decided by officials of that particular authority which have
inspected the illegal operations. La carte has to take license from food department of Australia to
make sure about the quality of their food. License includes some rules and regulation that has to
be followed by company(Gartner and Hall, W., 2015). It shows a fix criteria and enterprise has to
work by being under that criterion. For carrying each business operation and activity applicant
should identify the regulatory and licensing requirements.
If the owner of potential restaurant breach the regulations and not register the firm as per
the rules of Australian authority body then different kinds of penalties and punishments are
given. Furthermore, as per the ASIC, penalties are in the three offence which are provided as
below:
 First offence: $304,750
 Second offence: $426,650
 Third offence: $609,500 (Security industry breaches and penalties, 2017)
Along with this, imprisonment can be there which is from 6 months to 18 months or half
year to one and half years.
Government requirements and permissions regarding to Alfresco
In order to take permission for taking Alfresco area and provide foot path dining to the
customers there are two steps comes under consideration. Furthermore, two parts of the
obtaining permit from Australian government are application and assessment process.
Very initially the owner apply in the government for taking permission where application
is to be given. Furthermore, authority party checkout all the informations which are necessary for
giving permission which called assessment process. After completion of both processes decision
to permit for alfresco area is given.
According to Australian government, there are some specific requirements are prepared
which are mandatory to follow by the restaurant at the time of giving permission of alfresco area
or foot path dining. Very basic requirement of the authority body is that services of foods and
meals must be consumed and throw on the roads in form of wastage. Apart from this, back face
of dining chairs should not in front of roads and public area. Heaters are highly necessary to be
maintained as per the rules and should not hamper to the environmental area. Copy of the
permission letter must be keep with the owner or businessman of the restaurant as per the legal
rules and requirements.
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When talking about the costing level of taking permission of foot path dining or Alfresco
area then it divides in two parts which is at the time of application and assessment. Description
of the both the fees are given below:
 Fees for every application to use Alfresco area is worth of $108.65
 At the time of assessment process fees on each assessment is worth of $665.25.
Moreover, Foot path occupation fee is worth of $434.95 of each square metre to take
permission of every year.
Requirements and permits for A frame notice board
There are different kinds of structures as well as frames are available by using them
managers able to provide appropriate notices and instructions up to the people. One of the best
method which is like A frame is used by the owner of new restaurant which helps to provide very
clear notices to the community. Image of A frame special notice board is stated below:
Illustration 1: A frame special notice board
In order to take permission of using A frame special notice board requirement of the
Australian government are that any kind of notice should not there which lead to create negative
impact on the customers. Along with this, there should not be indication on the particular people,
customer or any rivals. As per the government of Australia it is mandatory to follow all the rules
under which about the area is also involved.
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CONCLUSION
This report have concluded that regulatory and licensing requirements has high
importance in establishment of a new business in different place. The owner of La carte
restaurant has to register in all required areas so the owner can run the firm ethically. By getting
all then licenses from government and registering for GST, credibility of entity will be increased.
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REFERENCES
Books and Journals
Liu, L.C. and et.al., 2016. Toward a framework of environmental risk management for CO2
geological storage in China: gaps and suggestions for future regulations. Mitigation and
Adaptation Strategies for Global Change. 21(2). pp.191-207.
Clothier, R.A. and et.al., 2015. Challenges to the development of an airworthiness regulatory
framework for unmanned aircraft systems. In AIAC16: 16th Australian International
Aerospace Congress (p. 87). Engineers Australia.
Carney, M., 2016. Regulation of advanced nurse practice: its existence and regulatory
dimensions from an international perspective. Journal of nursing management. 24(1).
pp.105-114.
Hoekman, B., 2015. Fostering Transatlantic Regulatory Cooperation and Gradual
Multilateralization. Journal of International Economic Law. 18(3). pp.609-624.
MacDonald, J. and et.al., 2015. Bringing plant-based veterinary vaccines to market: Managing
regulatory and commercial hurdles. Biotechnology advances. 33(8). pp.1572-1581.
Munsie, M. and Pera, M., 2014. Regulatory loophole enables unproven autologous cell therapies
to thrive in Australia. Stem cells and development. 23(S1). pp.34-38.
Borchert, I. and et.al., 2013. Policy barriers to international trade in services: evidence from a
new database. The World Bank Economic Review. 28(1). pp.162-188.
Sweetman, A. and et.al., 2015. Occupational regulation and foreign qualification recognition: an
overview. Canadian Public Policy. 41(Supplement 1). pp.S1-S13.
Gartner, C. and Hall, W., 2015. A licence to vape: Is it time to trial of a nicotine licensing
scheme to allow Australian adults controlled access to electronic cigarettes devices and
refill solutions containing nicotine?. International Journal of Drug Policy. 26(6). pp.548-
553.
Online
201 Application for registration as an Australian company, 2017. [Online] Available through:
<http://asic.gov.au/regulatory-resources/forms/forms-folder/201-application-for-
registration-as-an-australian-company/> [Accessed on 27th June 2017].
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Business name registration, 2017. [Online] Available through:
<https://www.business.gov.au/info/plan-and-start/start-your-business/business-and-
company-registration/business-name-registration> [Accessed on 27th June 2017].
Licences and registrations, 2017. [Online] Available through:
<http://www.business.vic.gov.au/setting-up-a-business/how-to-start-a-business/licences-
and-registrations> [Accessed on 24th June 2017].
Pace, G., 2016. The Cost of Starting Up a Restaurant. [Online] Available through:
<https://www.inc.com/articles/201111/business-start-up-costs-restaurant.html> [Accessed
on 27th June 2017].
Security industry breaches and penalties, 2017. [Online] Available through:
<https://www.qld.gov.au/law/laws-regulated-industries-and-accountability/queensland-
laws-and-regulations/regulated-industries-and-licensing/regulated-industries-licensing-and-
legislation/security-industry-regulation/security-industry-breaches-and-penalties/>
[Accessed on 27th June 2017].
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