### sec.246 Meaning of minimum retention period The minimum retention period , for a financial transaction document of a financial institution, is— if the document relates to the opening of an account with the institution—the 7 years after the day the account is closed; or if the document relates to the opening by a person of a deposit box held by the institution—the 7 years after the day the deposit box ceases to be used by the person; or otherwise—the 7 years after the day the transaction takes place. - (a) if the document relates to the opening of an account with the institution—the 7 years after the day the account is closed; or - (b) if the document relates to the opening by a person of a deposit box held by the institution—the 7 years after the day the deposit box ceases to be used by the person; or - (c) otherwise—the 7 years after the day the transaction takes place.

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Section sec.246 - Criminal Proceeds Confiscation Act 2002 - Meaning of minimum retention period — Zoe