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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 August 2014 - onwards
Version 2 of 2

75. Duty to keep books of account etc

(1) A registered society must ensure that proper books of account are kept with respect to its transactions and its assets and liabilities.

(2) The duty under subsection (1) includes a duty to ensure that there are kept such books as are necessary to -

(a) give a true and fair view of the state of the society's affairs, and

(b) explain its transactions.

(3) A registered society must establish and maintain a satisfactory system of control of its -

(a) books of account,

(b) cash holdings, and

(c) receipts and remittances.