AI Summary of 33. Retention of records
This section mandates specific obligations for ATM deployers and CIT providers regarding the retention of relevant records. It requires these persons to retain such records at their premises within the State and notify the Bank of the address where these records are kept. The obligation to retain records extends to a period of no less than six years and is supplementary to any existing legal requirements.
Records may be maintained in electronic or non-written forms, provided they can be reproduced in written format. The obligations persist even after a person is no longer classified under this section, including successors of corporate entities. The Bank has the authority to prescribe the types of records to be retained and establish further requirements for those concerning dissolved entities or bankrupt individuals. Non-compliance with these provisions constitutes an offence.
33. Retention of records
(1) This section applies to the following persons:
(2) A person to whom this section applies shall -
(a) retain at an office or other premises in the State such relevant records as may, subject to subsections (8), (9) and (10), be prescribed, and
(b) notify the Bank, in writing, of the address of any office or other premises where those relevant records are retained.
(3) The obligation imposed by subsection (1) is in addition to, and not in substitution for, any other obligation imposed by or under any other enactment or rule of law with respect to the retention of records by a person to whom this section applies.
(4) A person to whom this section applies shall retain the relevant records referred to in subsection (2) for a period of not less than 6 years after the date on which the relevant record is made.
(5) A person to whom this section applies may keep the relevant records referred to in subsection (2) wholly or partly in an electronic, mechanical or other non-written form only if they are capable of being reproduced in a written form.