FOREIGN INFLUENCE TRANSPARENCY SCHEME ACT 2018 - SECT 40 Keeping records

FOREIGN INFLUENCE TRANSPARENCY SCHEME ACT 2018 - SECT 40

             (1)  A person who is registered under the scheme in relation to a foreign principal must keep records of the matters mentioned in subsection (2):

                     (a)  while registered under the scheme in relation to the foreign principal; and

                     (b)  until the end of 3 years after the registration ends.

Note:          Certain conduct in relation to records is an offence (see subsection 58(3) and section 61).

          (1A)  Despite subsection (1), a person is not required to keep any particular record for more than 10 years from the day the record was made.

             (2)  The matters are the following:

                     (a)  registrable activities the person undertakes on behalf of the foreign principal;

                     (b)  benefits provided to the person by the foreign principal;

                     (c)  information or material forming part of any communications activity that is registrable in relation to the foreign principal;

                     (d)  any registrable arrangement between the person and the foreign principal;

                     (e)  other information or material communicated or distributed to the public or a section of the public in Australia on behalf of the foreign principal.