Document ID: chunk:federal_register_of_legislation:C2023C00080:clause:1_22c
Version: federal_register_of_legislation:C2023C00080
Segment Type: clause
Provision Reference: sch 1 cl 22C
Character Range: 111742–112669

22C  Records to be kept—fixed charge year
 (1) A person who is or was a liable entity for a fixed charge year must keep records of the person's activities that:
 (a) allow the person to report accurately under section 22AA; and
 (b) enable the Regulator to ascertain whether the person has complied with the person's obligations under section 22AA; and
 (c) comply with the requirements of subsection (2) and the regulations made for the purposes of subsection (3).
Civil penalty:
 (a) for an individual—2,000 penalty units; or
 (b) otherwise—10,000 penalty units.
 (2) The person must retain the records for 5 years from the end of the fixed charge year in which the activities take place.
 (3) The regulations may specify requirements relating to:
 (a) the kinds of records; and
 (b) the form of records;
that must be kept under subsection (1).

Part 3D—Reporting obligations of holders of liability transfer certificates