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Nick W

How long should company keep app form?

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Hi

 

I have a quick question. I have put in a request under DPA for a SAR to a company that offers rewards.

 

I signed up with them to collect points in 1992. Although the account is still in use they said that they no longer have the original application form on their archive.

 

For clarity, they are not providing credit, I earn rewad points which I can redeem against items.

 

How long are they suppose to keep my application form for, given the account is still active?

 

Thanks

 

NIck

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I am confused as to the importance of the application form.

 

Surely the Agreement is more important?

 

GK

 

BTW this will bump you up

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Yes, sorry the agreement.

 

I need the agreement (I signed) for the reward scheme.

 

Are they required to keep the agreement for the life of the time I am a member?

 

I am after the orginal agreement - not the one which has been updated over time.

 

Thanks!

 

Nick

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Can anyone help?

 

Thanks

 

Nick

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This may help...although bear in mind its directly related to financial agreements ala CCA's.

 

…….the need to preserve statutory documents :

 

 

Document Retention

 

According to sections 221 and 222 of the Companies Act 1985, a public company is required to maintain records for a period of six years (section 222(5)(b).

 

As a Credit Card agreement is active until the agreement is terminated, I would suggest that all the payment records (and other documents making up the file - including the agreement/application etc) would be "live" until the account is paid, or terminated - thus, the full file should be retained for at least six years after that.

 

This interpretation fits in with Inland Revenue legislation that requires prime documents to be retained for a period of six years - AFTER THE END OF THE RELEVANT ACCOUNTING PERIOD. That would mean some files need to be retained for up to seven years. The relevant legislation is found in Schedule 18 of the Finance Act 1998 (paragraph 21) - of particular significance is sub-paragraph (6) which states:

 

"The duty to preserve records under this paragraph includes a duty to preserve all supporting documents relating to the items mentioned in sub-paragraph (5)(a) and (b)."

 

Finally and most importantly in my view, key documents/application forms etc must be kept until 5 years after that business relationship has ended. This is a requirement of The Money Laundering Regulations 1993, 2003 and 2007.

 

 

S.


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