123‑15 Offence for failing to keep or re123‑15 Offence for failing to keep or retain records

123‑15 Offence for failing to keep or retain records

(1) An entity commits an offence if: (a) the entity is required to keep or retain a record under this Division; and (b) the entity does not keep or retain the record in accordance with this Division; and (c) the Commissioner has not notified the entity that the entity does not need to retain the record; and (d) the entity is not a company that has been finally dissolved.

Penalty: 30 penalty units.

(2) Subsection (1) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.

(3) For the purposes of section 288‑25, section 123‑10 does not require an entity to retain a record if: (a) the Commissioner notifies the entity that the entity does not need to retain the record; or (b) the entity is a company that has been finally dissolved.

Note: Section 288‑25 imposes an administrative penalty if an entity does not keep or retain records as required by this Division.