(1)The Commissioners may by regulations require any person to whom this Chapter applies—
(a)to keep such records as may be prescribed in the regulations; and
(b)to preserve those records—
(i)for such period not exceeding four years as may be prescribed in the regulations, or
(ii)for such lesser period as the Commissioners may require.
(2)The Commissioners may also require any person mentioned in subsection (3) below—
(a)to keep such records as they may specify; and
(b)to preserve those records for such period not exceeding four years as they may require.
(3)The person referred to is any person who—
(a)is not carrying on a trade or business which consists of or includes the importation or exportation of customs goods, but
(b)is concerned in some other capacity in such importation or exportation.
(4)A duty imposed under subsection (1)(b) or (2)(b) above to preserve records may be discharged by the preservation of the information contained in them by such means as the Commissioners may approve.
(5)On giving approval under subsection (4) above, the Commissioners may 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)Regulations under this section may—
(a)make different provision for different cases; and
(b)be framed by reference to such records as may be specified in any notice published by the Commissioners in pursuance of the regulations and not withdrawn by a further notice.
(7)Any person who fails to comply with a requirement imposed by virtue of this section shall be liable on summary conviction to a penalty not exceeding level 3 on the standard scale.