142Requirements to keep accounts, records and other documents

142 Requirements to keep accounts, records and other documents

Accounts, records and other documents that must be kept (1) For the purposes of paragraph 268(1)(a) of the Act, a licence holder must keep the following: (a) any written reports of audits or inspections of licence infrastructure in relation to the licence; (b) any written reports of audits or inspections of licence activities (whether conducted by the licence holder or another person); (c) any accounts, records or other documents relating to the licence holder’s obligations under the applied work health and safety provisions; (d) any other records relevant to whether the licence holder has complied with the Act, this instrument or the management plan (if any) for the licence. (2) For the purposes of paragraph 268(1)(b) of the Act, a licence holder must keep any accounts, records or other documents that provide evidence in support of any statements included by the licence holder in an annual report under paragraph 33(4)(b), or a final report under paragraph 33(8)(b), of this instrument.

Note 1: The requirements in subsections (1) and (2) are in addition to any requirements imposed by data management directions under sections 263 and 264 of the Act (see subsection 268(2) of the Act).

Note 2: The management plan for a licence must address compliance with record‑keeping requirements (see section 93), and may require a licence holder to keep documents additional to the documents mentioned in this section.

Manner of storing accounts, records and other documents (3) An account, record or other document required to be kept under subsection (1) or (2), or under a data management direction: (a) must be stored in a place in Australia; and (b) must, to the extent that it is reasonably possible to do so, be stored in a place where the licence holder makes decisions that: (i) are made in the capacity of a person conducting a business or undertaking (within the meaning of the Work Health and Safety Act) at that place; and (ii) are about matters that directly affect the health or safety of people who are relevant workers (within the meaning of section 237 of the Offshore Electricity Infrastructure Act 2021); and (c) must be stored in a manner that allows the account, record or other document to be easily retrievable in a timely manner; and (d) must be stored securely; and (e) must be stored for a period of at least 7 years after the account, record or document is generated. Accounts, records and other documents that are modified (4) If an account, record or other document required to be kept under this section, or under a data management direction, is modified: (a) subsection (3) applies separately to the unmodified account, record or document and to any modified versions of the account, record or document; and (b) each modified version must be stored for a period of at least 7 years after it is modified. Effect of licence ceasing to be in force (5) If a person held a licence that has ceased to be in force: (a) the person must continue to comply with subsections (3) and (4) (except paragraph (3)(b)) in relation to all accounts, records and other documents that the person was required to keep under this section or under a data management direction before the licence ceased to be in force; and (b) the obligation in paragraph (a) of this subsection continues to apply to the person until the periods in paragraphs (3)(e) and (4)(b) have passed for all accounts, records and other documents that the person was required to keep. Effect of licence transfer (6) If a licence is transferred under Division 2 of Part 2 of Chapter 3 of the Act: (a) the transferor (within the meaning of section 70 of the Act) must continue to comply with subsections (3) and (4) (except paragraph (3)(b)) in relation to all accounts, records and other documents that the transferor was required to keep under this section or under a data management direction before the transfer took effect; and (b) the obligation in paragraph (a) of this subsection continues to apply to the transferor until the periods in paragraphs (3)(e) and (4)(b) have passed for all accounts, records and other documents that the transferor was required to keep; and (c) the transferee (within the meaning of section 70 of the Act) is not required to comply with subsection (3) in relation to any accounts, records or other documents that the transferor is keeping in accordance with this subsection.