Document ID: chunk:federal_register_of_legislation:C2004C01279:clause:3_40m
Version: federal_register_of_legislation:C2004C01279
Segment Type: clause
Provision Reference: sch 3 cl 40M
Character Range: 93491–94457

40M  Retention obligations of transferee ADIs

  If the transferee ADI is given the original and all copies of the document within the 120‑day period beginning 30 days before the transfer of the account, this Part applies to the transferee ADI in relation to the document as follows:
 (a) if the document was covered by paragraphs 40F(1)(a) to (d)—as if the document were covered by those paragraphs in relation to the transferee ADI;
 (b) if the document was covered by subsection 40H(1)—as if the document were covered by that subsection in relation to the transferee ADI;
 (c) if the document was covered by subsection 40J(1)—as if the document were covered by that subsection in relation to the transferee ADI;
 (d) in any case—as if the minimum retention period applicable to the document were the period of 7 years after the day on which the transferred account is closed.

Division 4—Obligations relating to closed ADI accounts transferred to another ADI