Document ID: chunk:federal_register_of_legislation:C2025C00189:section:58ac
Version: federal_register_of_legislation:C2025C00189
Segment Type: section
Provision Reference: s 58AC
Character Range: 948469–949977

58AC  Regulated sectors subject to the Scams Prevention Framework
 (1) The Minister may, by legislative instrument, designate one or more businesses or services to be a regulated sector of the Australian economy.
Note 1: An individual business or service could be designated, or businesses or services could be designated by class (see subsection 13(3) of the Legislation Act 2003).
Note 2: For variation and repeal, see subsection 33(3) of the Acts Interpretation Act 1901.
 (2) Without limiting subsection (1), the following classes of businesses or services could be designated:
 (a) businesses of banking, other than State banking (within the meaning of paragraph 51(xiii) of the Constitution) not extending beyond the limits of the State concerned;
 (b) businesses of insurance, other than State insurance (within the meaning of paragraph 51(xiv) of the Constitution) not extending beyond the limits of the State concerned;
 (c) postal, telegraphic, telephonic or other like services (within the meaning of paragraph 51(v) of the Constitution), such as one or more of the following:
 (i) carriage services (within the meaning of the Telecommunications Act 1997);
 (ii) electronic services (within the meaning of the Online Safety Act 2021), such as social media services (within the meaning of that Act);
 (iii) broadcasting services (within the meaning of the Broadcasting Services Act 1992).
Note: This is not an exhaustive list. Similarly, a subset of paragraph (a), (b) or (c) could be designated.