309
In forcePeriod for which licensee’s accounting records to be kept
Part 8Accounting procedures
309 Period for which licensee’s accounting records to be kept
(1)
A licensee must keep an accounting record of the licensee for 5 years after the end of the transaction to which the record relates.Maximum penalty—40 penalty units.
(2)
Subsection (1) does not apply to an accounting record if—
(a)
the information previously contained in the record is kept in another way under an approval of the commissioner; or
(b)
the record has been destroyed under an approval of the commissioner.
(3)
Subsection (1) has effect subject to any other law about the retention or destruction of the accounting record.
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