Document ID: chunk:federal_register_of_legislation:C2024C00826:section:227
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 227
Character Range: 559710–561061

227  Concealing etc. of credit books

Prohibition on concealing credit books etc.
 (1) A person must not:
 (a) conceal, destroy, mutilate or alter a credit book; or
 (b) send a credit book out of this jurisdiction.
Civil penalty: 5,000 penalty units.

Offence
 (2) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (1); and
 (b) the person engages in conduct; and
 (c) the conduct contravenes the requirement.
Criminal penalty: 6 months imprisonment.

Defence
 (3) For the purposes of subsections (1) and (2), it is a defence if the person did not act with intent to:
 (a) defraud; or
 (b) prevent, delay or obstruct the carrying out of an examination, investigation or audit, or the exercise of a power, under this Act.
Note: For the purposes of subsection (2), a defendant bears an evidential burden in relation to the matter in subsection (3) (see subsection 13.3(3) of the Criminal Code).

Meaning of credit book
 (4) Credit book means:
 (a) a book (by whatever name it is known) that this Act requires to be kept; or
 (b) a document that is:
 (i) prepared; or
 (ii) lodged with or submitted to ASIC; or
 (iii) given to a person;
  under, or for the purposes of, this Act; or
 (c) a book relating to the credit activities engaged in by a licensee or a credit representative; or
 (d) a financial record.