310‑5 Insurer must keep records310‑5 Insurer must keep records

310‑5 Insurer must keep records (1) A private health insurer must keep all records that are relevant to either or both of following: (a) whether the insurer is liable to pay a *private health insurance levy; (b) the amount of the private health insurance levy that the insurer is liable to pay. (2) The records must be kept in: (a) an electronic form; or (b) another form approved by: (i) the Secretary of the Department, if the records relate to *complaints levy; or (ii) *APRA, if the records relate to *risk equalisation levy. (3) The records must be retained for a period of 7 years (or a shorter period allowed by the Private Health Insurance (Levy Administration) Rules) starting on the later of: (a) the day on which the records were created; or (b) 1 July 2004. (4) A private health insurer commits an offence if the insurer fails to: (a) keep the records; or (b) keep the records in the form required by or under subsection (2); or (c) retain the records for the period required by or under subsection (3). Penalty: 60 penalty units. (5) Strict liability applies to subsection (4). Note: For strict liability, see section 6.1 of the Criminal Code. (6) Nothing in this section is to be taken to have required an insurer to do an act or thing before the day on which this Act commences.