108Customer‑provided transaction documents to be retained

108 Customer‑provided transaction documents to be retained

Scope (1) This section applies if: (a) a document relating to the provision, or prospective provision, of a designated service by a reporting entity is given to the reporting entity by or on behalf of the customer concerned; and (b) the reporting entity commences, or has commenced, to provide the service to the customer. (2) The reporting entity must retain: (a) the document; or (b) a copy of the document; for 7 years after the giving of the document. Civil penalty (3) Subsection (2) is a civil penalty provision.