106Record‑keeping requirements for collection agents and collection sub‑agents

106  Record‑keeping requirements for collection agents and collection sub‑agents  (1) If a collection agent receives an amount of levy under paragraph 97(2)(b) or subclause 98(4) or 99(7), the agent must:  (a) keep a record of the receipt; and  (b) retain that record for at least 5 years after the receipt.  (2) If a collection sub‑agent receives an amount of levy under paragraph 98(2)(b) or 99(3)(b) or subclause 99(5) or (6), the sub‑agent must:  (a) keep a record of the receipt; and  (b) retain that record for at least 5 years after the receipt.  (3) A record kept under this clause must be:  (a) in English, or readily accessible and easily convertible into English; and  (b) such as to enable the agent’s or sub‑agent’s liability to remit levy to be readily ascertained.  (4) However, it is not necessary for a person to retain records under this clause if:  (a) the Secretary notifies the person that the person does not need to retain the records; or  (b) the person is a company that has been finally dissolved.  (a) the person is subject to a requirement to keep or retain a record under this clause; and Penalty for contravention of this subclause:  30 penalty units. Division 6—Late payment penalty