Document ID: chunk:federal_register_of_legislation:C2025A00015:clause:1_58bn
Version: federal_register_of_legislation:C2025A00015
Segment Type: clause
Provision Reference: sch 1 cl 58BN
Character Range: 28095–28767

58BN  Investigating actionable scam intelligence—civil penalty provision
 (1) A regulated entity contravenes this subsection if the entity:
 (a) has actionable scam intelligence about an activity relating to, connected with, or using a regulated service of the entity; and
 (b) fails to take reasonable steps to investigate whether or not the activity is a scam during the 28‑day period starting on the day that the intelligence becomes actionable scam intelligence for the entity.
 (2) Subsection (1) is a civil penalty provision.
Note: This means subsection (1) is a civil penalty provision of an SPF principle for the purposes of section 58FJ (about civil penalties).