Period of retention

Current

(1)

A person who is required by section 62 to keep a record or evidence must retain the record or evidence for not less than 5 years after the date it was made or obtained.

25 penalty units in the case of a body corporate;

5 penalty units in any other case.

(2)

Subsection (1) does not apply if the person has a reasonable excuse for non-compliance.

This Act’s bill:Explanatory memorandum Second reading speech

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63 Period of retention