sec.43Records to be kept by biodiscovery entity

sec.43 Records to be kept by biodiscovery entity

A biodiscovery entity that has entered into a benefit sharing agreement must keep each record or document evidencing the results of biodiscovery research carried out under the agreement for 30 years after the record or document is created. Maximum penalty—50 penalty units. The entity must also keep each record or account necessary for working out amounts of money payable by the entity to the State under the agreement for 30 years after the record or account is created. Maximum penalty—50 penalty units. In this section— biodiscovery entity , that has entered into a benefit sharing agreement, includes the entity’s successors and assigns. (sec.43-ssec.1) A biodiscovery entity that has entered into a benefit sharing agreement must keep each record or document evidencing the results of biodiscovery research carried out under the agreement for 30 years after the record or document is created. Maximum penalty—50 penalty units. (sec.43-ssec.2) The entity must also keep each record or account necessary for working out amounts of money payable by the entity to the State under the agreement for 30 years after the record or account is created. Maximum penalty—50 penalty units. (sec.43-ssec.3) In this section— biodiscovery entity , that has entered into a benefit sharing agreement, includes the entity’s successors and assigns.