PAL renewal question

[ultimaix]

Over the years, I have renewed my RPAL four times and I have never seen this.
This last time took 6 months and...

When it finally arrived it was glued to a form that stated:
Please detach the licence conditions printed below and keep them with your licence at all times.
If requested by a peace officer or other authority, you must be able to provide both your licence and the licence conditions.

At the bottom of the form there is 'cut along the dotted line'
And the 'Conditions - Possession and Acquisition' section is below.
This section is blank with only my name, DOB, and licence number on it.
There is a 'Conditions' section on the back of my plastic PAL card, it is also blank.

Am I really required to carry this piece of paper with my licence?
What is the penalty if I am caught without it?
What if I am out in the rain hunting?
Am I allowed to laminate it?
Why must I carry it? There is no additional information on this form that is not on my plastic PAL card.

I am hoping someone can shed some light on this for me?
Are there any firearm instructors around that can help?

Thanks in advance !

p.s.
I have tried uploading a picture of this form, but I am not having any success on here.
Can I email someone the picture so they can post it on here for me?
Thanks !