Commonwealth Numbered Acts

PROCEEDS OF CRIME ACT 1987 No. 87, 1987 - SECT 78

78. (1) Where a financial institution is required by law to release an
original of an essential customer-generated financial transaction document
before the end of the minimum retention period applicable to the document, the
institution shall retain a complete copy of the document until the period has
ended or the original is returned, whichever occurs first.

(2) The financial institution shall maintain a register of documents released
under subsection (1).

(3) A financial institution that contravenes subsection (1) or (2) is guilty
of an offence against this section punishable, upon conviction, by a fine not
exceeding $10,000.