Clause 5

The amendment made to each Act by each item in the Schedule in respect of record-keeping shall apply in relation to any book, document or record required to be kept or retained under the relevant provision as specified in that item, whether the obligation to keep or retain such book, document or record first arises before, on or after the date of commencement of the amendment.

Subsection (1) shall not apply in relation to any book, document or record if the period for which it is to be kept or retained under the relevant provision in force immediately before the date of commencement of the amendment made to that provision by the Schedule has expired by that date.