Regulatory system governance is the setting of the objectives of that regulatory system and ensuring that actions are taken to deliver on those objectives, consistent with good public sector management practice.
The Regulatory Stewardship Branch of the Ministry of Business, Innovation and Employment (MBIE) has developed the guidance and has grouped the regulatory regimes for which it has a responsibility into 19 systems, based on the outcomes sought. Regulatory system governance is critical to system performance, however there is little guidance on what good regulatory system governance actually means in practice. This guidance intends to supplement formal requirements for governance in the public service.
It has been prepared to help:
- those with senior responsibilities for regulatory systems make sure that the necessary governance arrangements are in place – in particular to give due consideration to regulatory systems alongside their other governance and management responsibilities
- those with responsibilities for regulatory system governance in an agency discharge that function, and do so in a way that supports overall regulatory system outcomes
- regulatory system designers ensure that provision is made for good governance
- those with governance responsibilities, those in assurance roles, and other reviewers assess the effectiveness of governance.