Rule 57 - Generation and maintenance of electronic records
Section 57: Requirements for Handling Electronic Records
Section 57 outlines the obligations for generating and maintaining electronic records. First, it mandates that proper electronic backups of records must be kept. This ensures that in case of any accidental or natural destruction of records, the information can be restored within a reasonable timeframe. Secondly, any registered person who maintains electronic records is required to produce these records or documents in hard copy or an electronically readable format when requested. These documents must be authenticated by the person responsible. Additionally, if records are stored electronically, the registered person must provide access details such as file information, passwords, and explanations for any codes used. They must also supply a printed sample of the stored information upon request. This ensures transparency and accessibility of electronic records for verification and compliance purposes.
Note: It is an AI generated summary for reference purpose only.
57. Generation and maintenance of electronic records
(1) Proper electronic back-up of records shall be maintained and preserved in such manner that, in the event of destruction of such records due to accidents or natural causes, the information can be restored within a reasonable period of time.
(2) The registered person maintaining electronic records shall produce, on demand, the relevant records or documents, duly authenticated by him, in hard copy or in any electronically readable format.
(3) Where the accounts and records are stored electronically by any registered person, he shall, on demand, provide the details of such files, passwords of such files and explanation for codes used, where necessary, for access and any other information which is required for such access along with a sample copy in print form of the information stored in such files.
