Electronic Transactions Act · s 16

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16.
Secure electronic record
(1) If a prescribed security procedure or a commercially reasonable security procedure agreed to by the parties involved has been properly applied to an electronic record to verify that the electronic record has not been altered since a specified point in time, such record shall be treated as a secure electronic record from such specified point in time to the time of verification.
(2) For the purposes of this section and of section 17, whether a security procedure is commercially reasonable shall be determined having regard to the purposes of the procedure and the commercial circumstances at the time the procedure was used, including —
(a) the nature of the transaction;
(b) the sophistication of the parties;
(c) the volume of similar transactions engaged in by either or all parties;
(d) the availability of alternatives offered to but rejected by any party;
(e) the cost of alternative procedures; and
(f)
the procedures in general use for similar types of transactions.

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s 16Secure electronic record

(1)

If a prescribed security procedure or a commercially reasonable security procedure agreed to by the parties involved has been properly applied to an electronic record to verify that the electronic record has not been altered since a specified point in time, such record shall be treated as a secure electronic record from such specified point in time to the time of verification.

(2)

For the purposes of this section and of section 17, whether a security procedure is commercially reasonable shall be determined having regard to the purposes of the procedure and the commercial circumstances at the time the procedure was used, including —

(a)

the nature of the transaction;

(b)

the sophistication of the parties;

(c)

the volume of similar transactions engaged in by either or all parties;

(d)

the availability of alternatives offered to but rejected by any party;

(e)

the cost of alternative procedures; and

(f)

the procedures in general use for similar types of transactions.