2(1)The Commissioners may by regulations impose obligations to keep records on persons who are or are required to be registered and on persons who would be so required but for an exemption by virtue of regulations under section 24(4) of this Act.
(2)Regulations under this paragraph may be framed by reference to such records as may be stipulated in any notice published by the Commissioners in pursuance of the regulations and not withdrawn by a further notice.
(3)Regulations under this paragraph may—
(a)require any records kept in pursuance of the regulations to be preserved for such period, not exceeding six years, as may be specified in the regulations;
(b)authorise the Commissioners to direct that any such records need only be preserved for a shorter period than that specified in the regulations;
(c)authorise a direction to be made so as to apply generally or in such cases as the Commissioners may stipulate.
(4)Any duty under regulations under this paragraph to preserve records may be discharged by the preservation of the information contained in them by such means as the Commissioners may approve.
(5)The Commissioners may, as a condition of approving under sub-paragraph (4) above any means of preserving information contained in any records, impose such reasonable requirements as appear to them necessary for securing that the information will be as readily available to them as if the records themselves had been preserved.
(6)Subject to sub-paragraphs (7) and (8) below, a person who fails to preserve any record in compliance with—
(a)any regulations under this paragraph, or
(b)any notice, direction or requirement given or imposed under such regulations,
shall be liable to a penalty of £250.
(7)A failure such as is mentioned in sub-paragraph (6) above shall not give rise to any penalty under that sub-paragraph if the person required to preserve the record satisfies the Commissioners or, on appeal, an appeal tribunal that there is a reasonable excuse for the failure.
(8)Where, by reason of any such failure by any person as is mentioned in sub-paragraph (6) above—
(a)that person is convicted of an offence (whether under this Act or otherwise), or
(b)that person is assessed to a penalty under paragraph 7 of Schedule 6 to this Act (penalty for evasion),
that person shall not by reason of that failure be liable also to a penalty under this paragraph.
(9)The Commissioners may if they think fit at any time modify or withdraw any approval or requirement given or imposed for the purposes of this paragraph.