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).
Sourced from the Federal Register of Legislation at 22 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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