sec.108Keeping of accounts

### sec.108 Keeping of accounts A primary licensee must— keep accounting records that correctly record and explain the transactions and financial position for the licensee’s operations conducted under the primary licence; and keep the accounting records in a way that allows— true and fair financial statements and accounts to be prepared from time to time; and the financial statements and accounts to be conveniently and properly audited. Maximum penalty—40 penalty units. s 108 amd 2007 No. 22 s 3 sch 1 - (a) keep accounting records that correctly record and explain the transactions and financial position for the licensee’s operations conducted under the primary licence; and - (b) keep the accounting records in a way that allows— (i) true and fair financial statements and accounts to be prepared from time to time; and (ii) the financial statements and accounts to be conveniently and properly audited. - (i) true and fair financial statements and accounts to be prepared from time to time; and - (ii) the financial statements and accounts to be conveniently and properly audited. - (i) true and fair financial statements and accounts to be prepared from time to time; and - (ii) the financial statements and accounts to be conveniently and properly audited.