Section 58BB — Competition and Consumer Act 2010: Meaning of reasonable steps

(1) Matters relevant to whether a regulated entity has taken reasonable steps for the purposes of a provision of this Division include: (a) the size of the regulated entity; and (b) the kind of regulated services concerned; and (c) the consumer base of those services; and (d) the kinds of scam risks those services face; and (e) whether the regulated entity has complied with any relevant SPF code obligations relating to that provision. (2) In determining whether a regulated entity has taken reasonable steps for the purposes of a provision of this Division, the primary consideration must be the matter in paragraph (1)(e) (if applicable).