26Transaction records

26 Transaction records

26 Transaction records

(1) A licensee must keep records of the following matters in relation to any transaction for the buying of wool, hides or skins entered into by the licensee—

(a) the date of the transaction,

(b) if the person who sold the wool, hides or skins is—

(i) a natural person—the name, residential address, date of birth and signature of the natural person, or

(ii) a corporation—the name, business address and Australian Business Number of the corporation, and a statement signed by an executive officer of the corporation, or an employee authorised in writing by an executive officer of the corporation, consenting to the sale,

(c) if the sale was conducted by a natural person acting as agent for the seller, the name, residential address, date of birth and signature of the agent,

(d) details of the evidence of consent to sale that was obtained when the wool, hides or skins were accepted,

(e) the name, date of birth and residential address of the person who delivered the wool, hides or skins and details of the evidence as to identity that was provided by the person (whether on the occasion of that sale or an earlier sale when such evidence was provided),

(f) a fair and reasonable description of the wool, hides or skins (including the quantity and quality of the wool, hides or skins),

(g) the price paid by the licensee for the wool, hides or skins bought by the licensee,

(h) details of any subsequent sale or disposal of the wool, hides or skins,

(i) any other matters prescribed by the regulations.

Maximum penalty—50 penalty units.

(2) A licensee must keep records of the following matters in relation to any transaction for the sale of wool, hides or skins entered into by the licensee—

(a) the date of the transaction,

(b) if the person who bought the wool, hides or skins is—

(i) a natural person—the name, residential address, date of birth and signature of the natural person, or