Document ID: chunk:federal_register_of_legislation:C2004C01279:clause:3_40f
Version: federal_register_of_legislation:C2004C01279
Segment Type: clause
Provision Reference: sch 3 cl 40F
Character Range: 88170–89025

40F  Customer‑generated financial transaction documents not relating to operation of accounts

 (1) A financial institution is guilty of an offence if:
 (a) it does not retain, for the minimum retention period, the original of a customer‑generated financial transaction document; and
 (b) the document does not relate to the operation of an account held with the institution; and
 (c) the document is not a cheque or payment order; and
 (d) the financial institution is not required by law to release the original before the end of the minimum retention period.

Penalty: 100 penalty units.

 (2) An offence against this section is an offence of strict liability.

Note 1: For strict liability, see section 6.1 of the Criminal Code.

Note 2: This section does not apply to documents relating to certain transferred accounts (see sections 40L and 40P).