Commonwealth Consolidated Acts

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 51C

Obligation to keep records of compliance

  (1)   A licensee must keep records sufficient to enable the licensee's compliance with this Subdivision to be readily ascertained.

  (2)   The regulations may specify records that the licensee must keep as part of the obligation in subsection   (1).

Offence

  (3)   A person commits an offence if:

  (a)   the person is subject to a requirement in relation to records under subsection   (1); and

  (b)   the person engages in conduct; and

  (c)   the conduct contravenes subsection   (1).

Criminal penalty:   5 years imprisonment.