(1) A receipt, payment instrument or other accounting record may be destroyed with the approval of the Minister after the expiration of—
(a) in the case of a financial management system-based principal Treasury ledgers, cash registers and journals, 20 years;
(b) in the case of an abstract, a subsidiary journal, a cheque, a receipt form and counterfoil, a paper-based or computerised, 7 years;
(c) in the case of a payment instrument and a subsidiary record, 5 years;
(d) in the case of a special ledger and record such as a bank record, 20 years;
(e) in the case of a loan register, trust fund register after the closing of the last account.
(2) Where the Minister determines that a receipt, payment instrument or other accounting record is required for the purpose of any litigation, inquiry, investigation or other examination, he or she may direct the Accountant General or an accounting officer to delay the destruction of the receipt, payment instrument or other accounting record until it is no longer needed for that purpose.