Page:Electronic Transactions Act 2010.pdf/15

16 PART III SECURE ELECTRONIC RECORDS AND SIGNATURES Secure electronic record

17.—(1) If a specified 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 specific point in time, such record shall be treated as a secure electronic record from such specific point in time to the time of verification.

(2) For the purposes of this section and section 18, 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.

Secure electronic signature

18.—(1) If, through the application of a specified security procedure, or a commercially reasonable security procedure agreed to by the parties involved, it can be verified that an electronic signature was, at the time it was made—
 * (a) unique to the person using it;
 * (b) capable of identifying such person;
 * (c) created in a manner or using a means under the sole control of the person using it; and