Member

Crucially, under the information-gathering powers in Clause 15, regulators can also request further information about an incident that has been reported to them if they consider this necessary to understanding the incident and how it is being managed. Obviously, that may be appropriate in some incidents and not in others. That kind of practical balance is enabled by the Bill. That is a more proportionate approach than requiring reporting of all entities within the scope of the regulations. The incident reporting is something that we quantified in our impact assessment. By my calculation, the proposed amendments could lead to up to five stages of reporting: an initial notification, a full notification, a potential interim report and then either a final report or a progress report followed by a final report.