Document ID: chunk:federal_register_of_legislation:C2025C00044:section:35e
Version: federal_register_of_legislation:C2025C00044
Segment Type: section
Provision Reference: s 35E
Character Range: 163459–164383

35E  Retention of verification information—credit reporting bodies
 (1) A credit reporting body that receives a verification request in relation to an individual must retain the following information for 7 years after the request was received:
 (a) the name of the reporting entity that made the request;
 (b) the date on which the request was made;
 (c) the personal information about the individual that was provided by the reporting entity to the credit reporting body;
 (d) the date on which the credit reporting body provided an assessment (if any) in relation to the individual;
 (e) such other information about the verification request as is specified in the AML/CTF Rules.
 (2) A credit reporting body that retains information under subsection (1) must delete the information at the end of the 7 year period referred to in that subsection.

Civil penalty
 (3) Subsections (1) and (2) are civil penalty provisions.