57Business moneys other than trust moneys

57 Business moneys other than trust moneys (1) Subject to subsection (2), a licensed agent shall keep such accounting records as disclose particulars of: (a) all moneys, other than trust moneys, received by the agent in the course of the agent's business as a licensed agent; and (b) all payments out of those moneys made by the agent. (2) Subsection (1) does not apply to a licensed agent that: (a) is a company carrying on business as an agent within and outside the Territory; and (b) keeps accounting records, which include accounting records of a description referred to in subsection (1), in accordance with the requirements of the law of a State or another Territory of the Commonwealth that most closely corresponds to this Act and that relates to the keeping and audit of accounting records of companies.