Australian Capital Territory Numbered Acts

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16. Section 15 of the Principal Act is repealed and the following section substituted:

“15. (1) At each place at which a licensee carries on business, the licensee shall maintain a Dealings Register in accordance with this section.


        (a)     if the offender is a natural person—20 penalty units;

        (b)     if the offender is a body corporate—100 penalty units.

“(2) A Dealings Register shall consist of—

        (a)     a bound book each page of which is numbered consecutively and bears the name of the licensee and the address at which it is kept; or

        (b)     a computer system approved by the Registrar under subsection (4).

“(3) Where a licensee maintains a Dealings Register in the form of a bound book, entries in the book shall be made in ink and shall not be erased or made illegible.

“(4) The Registrar shall not approve a computer system for the purpose of maintaining a Dealings Register unless the Registrar is satisfied that the computer system as maintained by the licensee would—

        (a)     provide for the immediate retrieval of information required by this Act to be recorded in the Dealings Register and made available for inspection; and

        (b)     contain a duplicate version of the information referred to in paragraph (a) and provide for the back-up or duplication of any alteration in that information.

“(5) The information referred to in paragraph (4) (a) shall be in the English language and be readable on sight.”.

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