14 (c) "usual place of residence", in relation to a body corporate, means the place where it is incorporated or otherwise legally registered. PART V - SECURE ELECTRONIC RECORDS AND SIGNATURES 15. Secure electronic records (1) Where 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, the 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 section 16, 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 - 16. (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 signatures Where, in the application of a prescribed 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