Document ID: chunk:federal_register_of_legislation:C2025A00015:clause:1_58bj
Version: federal_register_of_legislation:C2025A00015
Segment Type: clause
Provision Reference: sch 1 cl 58BJ
Character Range: 25151–25767

58BJ  Taking reasonable steps to prevent scams from being committed—civil penalty provision
 (1) A regulated entity contravenes this subsection if the entity fails to take reasonable steps to prevent another person from committing a scam relating to, connected with, or using a regulated service of the entity.
Note: Sections 58GA to 58GC extend the meaning of person for partnerships, unincorporated associations and trusts.
 (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).