Section 20: Record

20. Record (1) Every holder of a freeport certificate shall, for the purposes of this Act, keep in relation to his freeport activities a full and true written record, whether electronically or otherwise, in the English or French language of every transaction he makes. (2) The Director-General may, in writing, require a holder of a freeport certificate to keep a record referred to in subsection (1) in such manner as may be specified by the Director-General. (3) Every holder of a freeport certificate shall, in respect of any goods entering or leaving his business premises in a freeport zone, keep in chronological order a copy of the entry he makes either electronically or otherwise together with the documents referred to in section 19 (2) (b). (4) Every record under subsections (1), (2) and (3) and the specified documents referred to in section 19 shall be kept— (a) for a period of at least 5 years after the completion of the transaction to which it relates; or (b) until the goods to which they relate are exported or removed for home consumption, whichever is the later, and shall be made available on demand by the Director-General or the Managing Director. F23 – 11 [Issue 3] Freeport Act (5) Any person who fails to keep or to make available to the DirectorGeneral or Managing Director, any record required to be kept under this section and the specified documents referred to in section 19 shall commit an offence and shall, on conviction, be liable to a fine not exceeding 200,000 rupees and to imprisonment for a term not exceeding 3 years. [S. 20 amended by s. 14 (c) of Act 15 of 2006 w.e.f. 1 July 2006; s. 12 (b) of Act 18 of 2008 w.e.f. 19 July 2008; s. 18 (k) of Act 14 of 2009 w.e.f. 1 July 2009.]