111Records to be kept by registered persons and relevant entities

111 Records to be kept by registered persons and relevant entities

(1) A person who is a registered person or a relevant entity must keep records that record and explain all transactions and other acts engaged in, or required to be engaged in, by the registered person or relevant entity under this Act.

(2) The records kept by a registered person must include any documents relevant to ascertaining—

(a) the amount of electricity generated by an accredited power station in relation to which the registered person is the nominated person; and

(b) the amount of that electricity that was generated from eligible renewable energy sources and from scheme capacity; and

(c) details of all certificates created by the nominated person during the year; and

(d) any other matter required by the ESC rules.

(3) The records kept by a relevant entity must include any documents relevant to ascertaining—

(a) the amount of electricity acquired by the relevant entity under scheme acquisitions during a year; and

(b) any other matter required by the ESC rules.

(4) The records must be kept—

(a) in writing in the English language or so as to enable the records to be readily accessible and convertible into writing in the English language; and

(b) so that the relevant entity's liability under this Act can be readily ascertained.

(5) A registered person or relevant entity who has possession of any records kept or obtained under or for the purposes of this Act must retain them until the end of 5 years after those records were prepared or obtained, or the completion of the transactions or acts to which those records relate, whichever is the later.

(6) Nothing in this section requires a registered person or relevant entity to retain records if—

(a) the ESC has notified the registered person or relevant entity that the retention of the records is not required; or

(b) the registered person or relevant entity is a company that has gone into liquidation and been finally dissolved.

(7) A registered person or relevant entity who contravenes this section is guilty of an offence and liable to a penalty not exceeding 60 penalty units, in the case of an individual, or 240 penalty units, in the case of a body corporate.

Division 3—Fees

112 Fees

(1) The Minister, after consultation with the Minister administering the Essential Services Commission Act 2001, may fix fees or scales of fees for the purposes of this Act.

(2) The fees may include—

(a) fees for the registration of certificates; and