40JRetaining other financial transaction documents

##### 40J Retaining other financial transaction documents (1) A financial institution is guilty of an offence if: (a) it does not retain, for the minimum retention period, either the original or a copy of a financial transaction document that is not a customer‑generated financial transaction document; and (b) retaining the document is necessary to preserve a record of the transactions concerned; and (c) the document is not a cheque or payment order. Penalty: 100 penalty units. (2) Subsection (1) does not apply to a document that relates to a single deposit, credit, withdrawal, debit or transfer of an amount not exceeding: (a) $200; or (b) such higher amount as is specified in the regulations for the purposes of this subsection. > Note 1: A defendant bears an evidential burden in relation to the defence in subsection (2) (see subsection 13.3(3) of the Criminal Code). > Note 2: Subsection (1) also does not apply to documents relating to certain transferred accounts (see sections 40L and 40P). (3) An offence against this section is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code.