Trustees (Transparency and Effective Control) Regulations 2017 · As enacted · Part 2 · Measures Relating to Obtaining Information
7. Keeping, etc., of records of information obtained
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A trustee of a relevant trust must take reasonable steps to ensure that an accurate record of the information obtained under regulations 3A(1), 4(1), 5(1) and 6(1) is —
kept and maintained in an easily accessible form;
updated in a timely manner; and
retained for a period of at least 5 years after the trustee ceases to be a trustee of the relevant trust.
If a trustee of a relevant trust updates any record of any information mentioned in paragraph (1), the trustee must also record the date on which the update is made.
Subregulation 1
A trustee of a relevant trust must take reasonable steps to ensure that an accurate record of the information obtained under regulations 3A(1), 4(1), 5(1) and 6(1) is —
kept and maintained in an easily accessible form;
updated in a timely manner; and
retained for a period of at least 5 years after the trustee ceases to be a trustee of the relevant trust.
Subregulation 2
If a trustee of a relevant trust updates any record of any information mentioned in paragraph (1), the trustee must also record the date on which the update is made.