Regulatory Flexibility Amendments Act of 1992

Regulatory Flexibility Amendments Act of 1992 - Amends Federal law to eliminate provisions respecting judicial review of Federal agency compliance with regulatory flexibility analysis requirements.

Requires an agency to consider the direct and indirect effects of a rule in determining whether or not it is likely to have a significant impact on a substantial number of small entities.

Sets forth guidelines governing agency transmittal of proposed rules to the Chief Counsel for Advocacy of the Small Business Administration. Authorizes such official to transmit to the agency a statement of opposition to the proposed rule. Requires publication of such statement and the agency's response in the Federal Register.

Expresses the sense of the Congress that the Chief Counsel for Advocacy of the Small Business Administration should be permitted to appear as amicus curiae in any action or case brought in a U.S. court for the purpose of reviewing a rule.