ASIC may inspect books without charge
264 ASIC may inspect books without charge
A book that the Commonwealth credit legislation requires a person to keep must be open for inspection (without charge) by a person authorised in writing by ASIC.
A person (the authorised person) authorised under this section may require a person in whose possession, custody or control the book is to make the book available for inspection by the authorised person.
Failure to comply with a requirement made under this subsection is an offence (see section 290).
An offence under subsection 290(2) relating to subsection (2) of this section is an offence of strict liability.
For strict liability, see section 6.1 of the Criminal Code.
An authorisation under this section may be of general application or may be limited by reference to the books to be inspected.
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