Section 58AE — Competition and Consumer Act 2010: Minister must consider matters, and consult, before designating a sector

(1) Before making an instrument under subsection 58AC(1) about a sector of the economy, the Minister must: (a) consider all of the following: (i) scam activity in the sector; (ii) the effectiveness of existing industry initiatives to address scams in the sector; (iii) the interests of persons who would be SPF consumers of regulated services for the sector if the instrument were made; (iv) the likely consequences (including benefits and risks) to the public if the instrument were made; (v) the likely consequences (including benefits and risks) to the businesses or services making up the sector; (vi) any other matters the Minister considers relevant; and (b) consult the businesses or services making up the sector, or such associations or other bodies representing them as the Minister thinks appropriate; and (c) consult such associations or other bodies representing the persons referred to in subparagraph (a)(iii) as the Minister thinks appropriate. Note: For the meaning of SPF consumer, see section 58AH. (2) A failure to comply with subsection (1) does not invalidate an instrument made under subsection 58AC(1).