62AKeeping of records, &c.

62A Keeping of records, &c.

[Section 62A Inserted by No. 21 of 2023, s. 55, Applied:01 Sep 2024]

(1)  The administrator for a represented person must keep an accurate record of all dealings and transactions made by the person as administrator.

Penalty:  Fine not exceeding 20 penalty units.

(2)  A person who has ceased to be an administrator (the former administrator) for a person in respect of financial matters must retain the records required to be kept under subsection (1) in relation to those financial matters for at least 7 years after so ceasing.

Penalty:  Fine not exceeding 20 penalty units.

(3)  The former administrator for a person may give a copy of the records required to be retained under subsection (2) in relation to that person’s financial matters to the following persons:

(a) if another person is appointed as an administrator in respect of financial matters for the person, that person;

(b) if the person has ceased to be a represented person, to that person;

(c) if the person has died, the legal representative of that person.

(4)  The former administrator for a person must, on request, give a copy of the records required to be retained under subsection (2) in relation to the person’s financial matters to a person referred to in subsection (3)(a) , (b) or (c) within 14 days after receipt of the request.

Penalty:  Fine not exceeding 20 penalty units.