sec.309Period for which licensee’s accounting records to be kept

### sec.309 Period for which licensee’s accounting records to be kept A licensee must keep an accounting record of the licensee for 5 years after the end of the transaction to which the record relates. Maximum penalty—40 penalty units. Subsection (1) does not apply to an accounting record if— the information previously contained in the record is kept in another way under an approval of the commissioner; or the record has been destroyed under an approval of the commissioner. Subsection (1) has effect subject to any other law about the retention or destruction of the accounting record. s 309 amd 1992 No. 35 sch sub 1999 No. 77 s 124 amd 2012 No. 25 s 109 (1) (sec.309-ssec.1) A licensee must keep an accounting record of the licensee for 5 years after the end of the transaction to which the record relates. Maximum penalty—40 penalty units. (sec.309-ssec.2) Subsection (1) does not apply to an accounting record if— the information previously contained in the record is kept in another way under an approval of the commissioner; or the record has been destroyed under an approval of the commissioner. (sec.309-ssec.3) Subsection (1) has effect subject to any other law about the retention or destruction of the accounting record. - (a) the information previously contained in the record is kept in another way under an approval of the commissioner; or - (b) the record has been destroyed under an approval of the commissioner.