Document ID: chunk:federal_register_of_legislation:C2023C00080:clause:1_22xa
Version: federal_register_of_legislation:C2023C00080
Segment Type: clause
Provision Reference: sch 1 cl 22XA
Character Range: 120060–120851

22XA  Records to be kept
 (1) A person who is or was required to provide a report under section 22X for a financial year must keep records of the person's activities that:
 (a) allow the person to report accurately under section 22X; and
 (b) enable the Regulator to ascertain whether the person has complied with the person's obligations under section 22X; and
 (c) comply with the requirements of subsection (2) and the regulations made for the purposes of subsection (3).
Civil penalty: 1,000 penalty units.
 (2) The person must retain the records for 5 years from the end of the financial 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).