96Accounting records must be kept by owners corporation

96 Accounting records must be kept by owners corporation

96 Accounting records must be kept by owners corporation

(1) An owners corporation must keep accounting records in accordance with this Division.

Maximum penalty—5 penalty units.

(2) The accounting records may be made and stored in the form determined by the owners corporation.

(3) Separate accounting records must be kept for the administrative fund, the capital works fund and any other fund kept by the owners corporation.

(4) The regulations may prescribe accounting records that are required to be kept by an owners corporation.