Financial Intermediaries Act 1996
sec.137Accounting records to be kept
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sec.137 Accounting records to be kept
A society must— keep accounting records that correctly record and explain the society’s transactions and financial position; and keep the accounting records in a way that will enable— true and fair accounts of the society to be prepared periodically; and the society’s accounts to be conveniently and properly audited under this part; and keep the accounting records for 7 years after the completion of the transactions to which they relate; and keep the accounting records in writing in the English language or so as to enable the records to be readily accessible and readily convertible into writing in the English language; and keep the accounting records at the society’s registered office. Maximum penalty—400 penalty units.
- (a) keep accounting records that correctly record and explain the society’s transactions and financial position; and
- (b) keep the accounting records in a way that will enable— (i) true and fair accounts of the society to be prepared periodically; and (ii) the society’s accounts to be conveniently and properly audited under this part; and
- (i) true and fair accounts of the society to be prepared periodically; and
- (ii) the society’s accounts to be conveniently and properly audited under this part; and
- (c) keep the accounting records for 7 years after the completion of the transactions to which they relate; and
- (d) keep the accounting records in writing in the English language or so as to enable the records to be readily accessible and readily convertible into writing in the English language; and
- (e) keep the accounting records at the society’s registered office.
- (i) true and fair accounts of the society to be prepared periodically; and
- (ii) the society’s accounts to be conveniently and properly audited under this part; and