48PAccounts and records of the Administration

48P Accounts and records of the Administration

(1) The Minister for Finance must ensure that there are prepared and kept accounts and records that properly record and explain the transactions and financial position of the Administration. (2) The accounts and records must be prepared and kept in accordance with: (a) the regulations; and (b) the Commonwealth Finance Minister’s Orders. (3) The Minister for Finance must ensure that the accounts and records are retained for the period ascertained in accordance with: (a) the regulations; or (b) if no regulations are in force for the purposes of paragraph (a)—the Commonwealth Finance Minister’s Orders.