We have the authority to charge a registration fee for an application to register a WELS product. We use these fees to fund the administration of the WELS scheme. This fee applies to licensed WELS organisations both inside and outside Australia.
The Australian Government Charging Framework outlines how we design, apply and review charging for regulatory activities.
Our Cost Recovery Implementation Statement (CRIS) provides information on how costs are recovered from individuals or organisations for specific WELS scheme activities. The statement gives stakeholders transparency about our costs and becomes a continuous disclosure tool.
Review of the WELS cost recovery arrangement
In 2023, we will commence a full review the cost recovery arrangement supporting the WELS scheme. The arrangement has not been reviewed since 2012 and the introduction of the current cost recovery model in 2013. As part of this review, we will consult on:
- the current cost recovery model
- potential alternative cost recovery models (if the current model is viewed as not being fit for purpose)
- the cost of administering the scheme
- indexing and the recovery of indirect costs (currently funded by the Australian Government)
- aligning cost recovery to the Australian Government Cost Recovery Guidelines.
If you want to be included in consultation on the review, please email us at firstname.lastname@example.org.
When consulting on our 2022-2023 CRIS, we also asked stakeholders to offer information and views to inform the design of the review of the WELS scheme cost recovery arrangement commencing this year.
The WELS CRIS Have Your Say page has the views provided by stakeholders.
2022-23 WELS scheme CRIS
The 2022-23 CRIS outlines the WELS scheme cost recovery arrangement and compliance with the Australian Government Cost Recovery Guidelines. The statement uses contemporary language, has increased transparency, and updated financial figures, forecasts and non-financial performance reporting. We consulted with stakeholders on the draft CRIS in October 2022 and we published it in February 2023.
|Cost Recovery Implementation Statement 2022-23 PDF||321 KB|
|Cost Recovery Implementation Statement 2022-23 DOCX||102 KB|
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