89Books, accounts etc.

#### 89 Books, accounts etc. (1) For the purposes of this Act, a person who carries on business as a wool‑broker or a manufacturer, is a wool‑dealer or exports any wool shall: (a) keep in the English language books or accounts recording particulars of all acts, transactions and operations in connexion with any wool, including the price received or paid for the wool; (b) preserve any such books or accounts for a period of 5 years after the completion of the acts, transactions or operations to which they relate; and (c) preserve any documents or papers relating to any acts, transactions or operations in connexion with wool for a period of 5 years after the completion of the acts, transactions or operations. Penalty: 30 penalty units. > Note 1: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. > Note 2: There is an administrative penalty if you do not keep or retain records as required by this section: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. (1A) An offence under subsection (1) is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code. (2) This section does not require the preservation by a person of any books, accounts, documents or papers: (a) in respect of which the Commissioner has notified the person that their preservation is not required; or (b) of a company that has gone into liquidation and has been finally dissolved. > Note: A defendant bears an evidential burden in relation to the matters in subsection (2), see subsection 13.3(3) of the Criminal Code.