49Record keeping

49 Record keeping

(1) An approved participant must maintain the following for 5 years: (a) information or documents required by the Secretary under section 46; (b) the approved participant’s records in relation to all of the following that relate to the approved participant: (i) an application under the Scheme; (ii) an allocation; (iii) an incentive given (to the approved participant); (iv) an incentive, or State or Territory contribution, required to be passed on under Part 7; (v) a summary required to be given under section 67; (vi) a notice of end of allocation required to be given under section 70.

Note: No incentive is available for any period during which the approved participant fails to comply with this section (see subsections 13(8) and (9)).

(2) Records relating to a requirement in subparagraph (1)(b)(iv), (v) or (vi) must be sufficient to show how and when the approved participant satisfied the requirement.