Books, accounts etc. to be kept and preserved
57 Books, accounts etc. to be kept and preserved
(1) A person who in the course of or for the purposes of or in connection with or incidental to a business that the person carries on:
(a) produces, manufactures, sells or supplies declared goods in relation to which a maximum price has been fixed and declared under section 20; or
(b) supplies or carries on a declared service in relation to which a maximum price has been fixed and declared under section 20,
must:
(c) keep proper books and accounts, and stock and costing records, in relation to the goods or service; and
(d) retain for 5 years after they are made or received or, if another period is prescribed, that other period:
those books, accounts and records; and
(ii) all copies of invoices, and all vouchers, agreements, correspondence, written communications, stock sheets, and all other documents, that relate to the purchase, costs or sale by or on behalf of the person of the declared goods or the declared service.
Maximum penalty: If the offender is a natural person – 100 penalty units.
If the offender is a body corporate – 500 penalty units.
(2) Without affecting the generality of subsection (1), the Controller may, by notice in writing, direct a person to whom that subsection applies:
to keep in accordance with the direction; and
(b) to retain for 5 years after they are made or received or, if another period is prescribed, that other period,
books, accounts and records in relation to declared goods or services that are specified in the direction.
(3) A person must comply with a direction given under subsection (2).
Maximum penalty: If the offender is a natural person – 100 penalty units.
If the offender is a body corporate – 500 penalty units.
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