Commonwealth Consolidated Acts

NATIONAL GREENHOUSE AND ENERGY REPORTING ACT 2007 - SECT 22

             (1)  A registered corporation must keep records of the activities of the members of its group that:

                     (a)  allow it to report accurately under this Act; and

                     (b)  enable the Regulator to ascertain whether the corporation has complied with its obligations under this Act; and

                     (c)  comply with the requirements of subsection (3) and the regulations made for the purposes of subsection (4).

Civil penalty:          1,000 penalty units.

             (2)  A person required to provide information under section 20 must keep records of the person's activities that:

                     (a)  allow the person to provide information accurately under this Act; and

                     (b)  enable the Regulator to ascertain whether the person has complied with its obligations under this Act; and

                     (c)  comply with the requirements of subsection (3) and the regulations made for the purposes of subsection (4).

Civil penalty:

                     (d)  for an individual--200 penalty units; or

                     (e)  otherwise--1,000 penalty units.

             (3)  The corporation or person must retain the records for 7 years from the end of the year in which the activities take place.

             (4)  The regulations may specify requirements relating to:

                     (a)  the kinds of records; and

                     (b)  form of records;

that must be kept under subsection (1) or (2).

             (5)  In this section:

"this Act" does not include Part 3E.