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Consumer Protection Act, 2008 (Act No. 68 of 2008)


Consumer Protection Act Regulations

10. Records to be kept by intermediary


1) For purposes of section 27(3)(b) of the Act, an intermediary must for a period of 3 (three) years retain a copy of—
a) any information contemplated in subregulations (2) and (3) of regulation 9;
b) any written instruction given or sent by a consumer to the intermediary;
c) if applicable and only where a transaction results, maintain a record of advice furnished to a consumer which must reflect the basis on which the advice was given.


2) An intermediary must take all reasonable steps to keep all records and documentation safe from destruction, and must if records are lost or destroyed, make a statement under oath or affirmation explaining the reasons for or the circumstances of the loss or the destruction.


3) An intermediary may keep records in an appropriate electronic or recorded format, which must be easily accessible and readily reducible to written or printed form.