31Records that licensees must keep

#### 31 Records that licensees must keep 31 Records that licensees must keep > > (1) For the purposes of the Act, section 172(2)(d), a licensee must keep the following records relating to a transaction carried out by the licensee or the licensee’s employees in connection with conveyancing work carried out by the licensee or employees— > > > > > (a) originals or copies of all documents evidencing the transaction, including, for example, agreements, conveyances, transfers, leases and mortgages, > > > > > (b) all associated documents, including, for example, documents required by law to be attached to contracts for the sale of land, inspection reports, requisitions on title and responses to the requisitions, > > > > > (c) originals or copies of all other documents and records maintained, issued or received by the licensee or the licensee’s employees, including, for example, letters, file notes, invoices and settlement sheets. > > > (2) The licensee must ensure the records are kept in a separate file relating only to the transaction for the relevant client. > > Maximum penalty—40 penalty units for a corporation or 20 penalty units for an individual.