32Records

32 Records

(1)  [Section 32 Subsection (1) amended by No. 29 of 2022, s. 98, Applied:14 Dec 2022] [Section 32 Subsection (1) amended by No. 58 of 2005, s. 27, Applied:01 Jan 2006] Other than a person referred to in subsection (3) , the holder of an agent licence in respect of the operation of a commercial agency must keep records in a secure place at his or her place of business for a period of 6 years of –

(a) [Section 32 Subsection (1) amended by No. 58 of 2005, s. 27, Applied:01 Jan 2006] any transaction entered into in the course of undertaking activities under that licence; and

(b) [Section 32 Subsection (1) amended by No. 58 of 2005, s. 27, Applied:01 Jan 2006] any person employed by the holder for the purpose of the operation of the commercial agency.

Penalty:  In the case of –

(a) a body corporate, 500 penalty units; and

(b) a natural person, 100 penalty units.

(2)  A person must not falsify or mutilate any records referred to in subsection (1) .

Penalty:  In the case of –

(a) a body corporate, 500 penalty units; and

(b) a natural person, 200 penalty units.

(3)  [Section 32 Subsection (3) inserted by No. 29 of 2022, s. 98, Applied:14 Dec 2022] The holder of an agent licence in respect of the operation of a commercial agency who holds that licence by virtue of holding deemed registration, and who does not have a place of business in this State, must keep the following records in an approved manner for an approved period:

(a) a record of any transaction entered into in the course of undertaking activities under that licence;

(b) a record in relation to any person employed by the holder for the purpose of the operation of the commercial agency.