Document ID: chunk:federal_register_of_legislation:C2025A00015:clause:1_58ae
Version: federal_register_of_legislation:C2025A00015
Segment Type: clause
Provision Reference: sch 1 cl 58AE
Character Range: 10450–11668

58AE  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).