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Proceeds of Crime (Consequential Amendments and Transitional Provisions) Act 2002
40RRetrieving documents must be reasonably practicable
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##### 40R Retrieving documents must be reasonably practicable
(1) A financial institution is guilty of an offence if:
(a) it is required to retain documents under this Part; and
(b) does not retain and store them in a way that makes their retrieval reasonably practicable.
Penalty: 100 penalty units.
(2) An offence against this section is an offence of strict liability.
> Note: For strict liability, see section 6.1 of the Criminal Code.