(1) The holder of a Class 1 authorisation and each related body shall -
(a) keep at an office or offices within the State such records as may be specified by the Bank under subsection (2), and
(b) notify the Bank in writing of the address of the office or offices where those records are kept.
(2) The Bank may specify records or classes of records for the purposes of subsection (1).
(3) The requirement imposed by subsection (1) is additional to any other requirement imposed by law with respect to the keeping of records by the holder of a Class 1 authorisation and by related bodies.
(4) The holder of a Class 1 authorisation and each related body shall keep the records referred to in subsection (1) for such period as the Bank notifies in writing to that holder.
(5) The holder of a Class 1 authorisation may keep its documents wholly or partly in a non-legible form so long as they are capable of being reproduced in a legible form.