32Section 104

32  Section 104

• A reporting entity must retain a copy of its anti‑money laundering and counter‑terrorism financing program.

• A reporting entity must retain records relating to its AML/CTF program.

33  Subsection 108(4)

34  Subsection 114B(4)

35  Division 5 of Part 10

Division 5—AML/CTF program record‑keeping requirements

116  Retention of records relating to Part 1A

 (1) A reporting entity must keep records that:

 (a) are reasonably necessary to demonstrate compliance with the reporting entity’s obligations under Part 1A; and

 (b) are in the English language, or in a form in which the records are readily accessible and readily convertible into writing in the English language.

 (3) A person who is or was a reporting entity must retain the records referred to in subsection (1) throughout the period:

 (a) beginning at the time the record was made; and

 (b) ending 7 years after the record is no longer relevant to the reporting entity’s compliance with its obligations under Part 1A.