Former NSW premier Morris Iemma has urged the RSPCA to "be at the table" to help a new panel chaired by him advise the state government on reform of the greyhound industry.

Premier Mike Baird announced the panel on Tuesday as part of his sensational back down on his plan to close the greyhound industry from next July.

Instead, Mr Baird he has asked Mr Iemma to chair a reform panel to report back to the government, with legislation anticipated early next year.

The government has suggested the new regime will include mandatory life bans and increased jail terms for live baiting and registering greyhounds for their entire lives.