75Requirement for audit

#### 75 Requirement for audit 75 Requirement for audit > > (1) A person who is a licensee, a former licensee or the personal representative of a licensee must, within 3 months after the end of the audit period applicable to the person, cause the records and documents relating to any trust money held during that period by the person in accordance with this Act to be audited by a person qualified to act as an auditor for the purposes of this Division. > > > (2) The Secretary may in a particular case or class of cases by order in writing extend the period of 3 months under subsection (1). > > > (3) The person must retain a copy of the auditor’s report on the audit for a period of 3 years after the date on which the report was made. > > > (4) (Repealed) > > Maximum penalty— > > > (a) 100 penalty units in the case of a corporation, or > > > (b) 50 penalty units in any other case. > > **s 75:** Am 2006 No 33, Sch 1 \[23\]; 2018 No 65, Sch 5.1 \[3\] \[4\].