5B. Record keeping

A developer must keep, for such period as may be prescribed, all documents and information (including any analysis performed) relating to a person that the developer obtains as a result of performing the customer due diligence measures required by section 5A(2).

For the purposes of subsection (1), different periods may be prescribed for different documents and information.

A developer must keep the documents and information required to be kept under subsection (1) in such form as may be prescribed.

A developer must make the documents and information required to be kept under subsection (1) available upon request to the Controller or an inspector and such other authorities as may be prescribed.

A developer that contravenes subsection (1), (3) or (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.