109
CurrentPreparation of financial statements and accounts
Part 6Compliance requirements
Division 3Financial accounts, statements and reports
109 Preparation of financial statements and accounts
(1)
A primary licensee must prepare financial statements and accounts as required by this section giving a true and fair view of the licensee’s financial operations conducted under the primary licence.
Maximum penalty—40 penalty units.
(2)
The financial statements and accounts must include the following—
(a)
trading accounts, if applicable, for each financial year;
(b)
profit and loss accounts for each financial year;
(c)
a balance sheet as at the end of each financial year.
This Act’s bill:Explanatory memorandum
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