Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Act 2025 (72 of 2025)

Schedule 4   Minor and technical amendments

Part 1   Amendments commencing day after Royal Assent

Division 1   Scams prevention framework

Competition and Consumer Act 2010

7   Subsection 58ED(3)

Repeal the subsection, substitute:

(3) The functions and powers of the SPF sector regulator for a regulated sector include:

(a) those conferred by:

(i) the SPF code for the sector; and

(ii) any other SPF provisions; and

(b) monitoring, investigating and enforcing compliance with the provisions of the SPF code for the sector; and

(c) if the SPF sector regulator is the Commission - the Commission's powers under section 155 to the extent that section 155 relates to:

(i) the provisions of the SPF code for the sector; or

(ii) a designated scams prevention framework matter (within the meaning of that section) involving the performance of a function, or the exercise of a power, mentioned in paragraph (a) or (b) of this subsection.

Note: The functions and powers of SPF regulators other than the Commission include the monitoring and investigating functions and powers referred to in Division 6 (see subparagraph (a)(ii) of this subsection).