Section 23: Period for which records must be kept

## 23. Period for which records must be kept

An accountable institution must keep the records which relate to—

(a) the establishment of a business relationship referred to in section 22, for at least five years from the date on which the business relationship is terminated;

(b) a transaction referred to in section 22A which is concluded, for at least five years from the date on which that transaction is concluded; and

(c) a transaction or activity which gave rise to a report contemplated in section 29, for at least five years from the date on which the report was submitted to the Centre.