4.
| (1) Every Institution shall be required to maintain -
| | (a) records of transactions and of correspondence relating to transactions and records of all reports furnished to the Financial Intelligence Unit for a period of six years from the date of the transaction, correspondence or the furnishing of the report, as the case may be ; and | | |
| | (b) records of identity obtained in terms of section 2 for a period of six years from the date of closure of the account or cessation of the business relationship, as the case may be, | | |
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| (2) Records required to be maintained under subsection (1) shall contain particulars sufficient to identify the-
| | (a) name, address and occupation (or where appropriate business or principal activity) of each person -
| | | (i) conducting the transaction ; and |
| (ii) where applicable, on whose behalf the transaction is being conducted ; |
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| | (b) nature and date of the transaction ; | | |
| | (c) type and amount of currency involved ; | | |
| | (d) parties to the transaction ; | | |
| | (e) the name and address of the employee who prepares the record; and | | |
| | (f) such other information as may be specified in rules issued by the Financial Intelligence Unit. | | |
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| (3) Where any record is required to be maintained under this Act-
| | (a) it shall be maintained in a manner and form that will enable an Institution to comply immediately with requests for information from the Financial Intelligence Unit or a law enforcement agency ; and | | |
| | (b) a copy of it may be kept-
| | | (i) in a machine-readable form if a paper copy can be readily produced from it; or |
| (ii) in an electronic form, if a paper copy can be readily produced from it and an electronic signature of the person who keeps the records is retained for purposes of verification. |
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| (4) The records maintained under subsection (1) shall be made available upon request to the Financial Intelligence Unit for purposes of ensuring compliance with this Act. |
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Sri Lanka Consolidated Acts