Obligation to retain records necessary to verify return of loans

1 A party secretary must take all reasonable steps to ensure that all records, documents, and accounts that are reasonably necessary to enable returns under sections 214C and 214F to be verified are retained until the expiry of the period within which a prosecution may be commenced under this Act in relation to the returns or in relation to any matter to which the returns relate. 2 A party secretary who fails, without reasonable excuse, to comply with subsection (1) commits an offence and is liable on conviction to a fine not exceeding $40,000. 3 A candidate must take all reasonable steps to ensure that all records, documents, and accounts that are reasonably necessary to enable returns filed under section 214GA to be verified are retained until the expiry of the period within which a prosecution may be commenced under this Act in relation to the returns or in relation to any matter to which the returns relate. 4 A candidate who fails, without reasonable excuse, to comply with subsection (3) commits an offence and is liable on conviction to a fine not exceeding $40,000. Section 214I : inserted , on 25 March 2014 , by section 41 of the Electoral Amendment Act 2014 (2014 No 8). Section 214I heading : amended , on 1 January 2023 , by section 19(1) of the Electoral Amendment Act 2022 (2022 No 80). Section 214I(3) : inserted , on 1 January 2023 , by section 19(2) of the Electoral Amendment Act 2022 (2022 No 80). Section 214I(4) : inserted , on 1 January 2023 , by section 19(2) of the Electoral Amendment Act 2022 (2022 No 80).