Document ID: chunk:federal_register_of_legislation:C2004A01287:clause:2_336
Version: federal_register_of_legislation:C2004A01287
Segment Type: clause
Provision Reference: sch 2 cl 336
Character Range: 142991–143501

336  Subsection 299L(3)
Repeal the subsection, substitute:

Obligation to retain and later destroy tax file number

 (3) Each trustee of the scheme must ensure that:
 (a) the record is retained until the time (the last retention time) at which:
 (i) if the person becomes a beneficiary of the scheme—the person ceases to be a beneficiary of the scheme; or
 (ii) if not—the person ceases to be an applicant; and
 (b) the record is destroyed as soon as is reasonably practicable after the last retention time.