Records to be kept
22XA Records to be kept
A person who is or was required to provide a report under section 22X for a financial year must keep records of the person’s activities that:
allow the person to report accurately under section 22X; and
enable the Regulator to ascertain whether the person has complied with the person’s obligations under section 22X; and
comply with the requirements of subsection (2) and the regulations made for the purposes of subsection (3).
Civil penalty: 1,000 penalty units.
The person must retain the records for 5 years from the end of the financial year in which the activities take place.
The regulations may specify requirements relating to:
the kinds of records; and
the form of records;
that must be kept under subsection (1).
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