58BRReporting actionable scam intelligence to SPF regulators—civil penalty provision

58BR Reporting actionable scam intelligence to SPF regulators—civil penalty provision

(1) This section applies if a regulated entity has actionable scam intelligence about an activity relating to, connected with, or using a regulated service of the entity.

Civil penalty provision

(2) The entity contravenes this subsection if the entity fails to give a report about the actionable scam intelligence:

(a) to the SPF general regulator within the period, and in the manner and form, prescribed by the SPF rules; and

(b) that contains the kinds of information prescribed by the SPF rules.

Note: This subsection only applies to the entity when the SPF rules prescribe matters for paragraphs (a) and (b) that apply to the entity.

(3) Subsection (2) is a civil penalty provision.

Note: This means subsection (2) is a civil penalty provision of an SPF principle for the purposes of section 58FJ (about civil penalties).

Defence

(4) Subsection (2) does not apply to the entity if circumstances of a kind prescribed by the SPF rules apply to the entity.

Note: A defendant bears an evidential burden in relation to the matter in this subsection (see section 96 of the Regulatory Powers Act).

Matters relevant to reports

(5) For the purposes of (but without limiting) subsection (2), the SPF rules may prescribe:

(a) that the report may be given via access to a specified data gateway, portal or website; and

(b) that the report include the sources or evidence that the entity has for that intelligence (see section 58AI); and

(c) different matters for different kinds of regulated entities.

Note: For more about the data gateways, portals or websites referred to in paragraph (a), see section 58BT.

(6) The report may be required to include SPF personal information.