(1) A regulation may prescribe what are, or are not, reasonable steps in relation to a risk.
(2) However, if a regulation does not prescribe what are, or are not reasonable steps in relation to a risk, all of the following must be considered in working out whether reasonable steps have been taken to minimise the risk:
(a) the seriousness of the risk;
(b) the current state of knowledge about—
(i) the hazard giving rise to the risk and the risk itself; and
(ii) any ways of eliminating the hazard or minimising the risk;
(c) the availability and suitability of ways to eliminate the hazard or minimise the risk;
(d) the cost of eliminating the hazard or minimising the risk;
(e) anything else prescribed by regulation.