New South Wales Consolidated Acts

HOME BUILDING ACT 1989 - SECT 105V

105V Accounts, returns and other records of licence holder

(1) A licence holder must keep any accounting and other records in relation to the business or financial position of the holder--

(a) that are prescribed by the regulations, and

(b) subject to the regulations, that it is directed by the Authority to keep by notice served on the holder.

(2) The regulations may prescribe the manner in which financial transactions are to be accounted for in any such records.

(3) A licence holder must lodge with the Authority returns in relation to the business or financial position of the holder in the form, containing the particulars and accompanied by any documents--

(a) that may be prescribed by the regulations, and

(b) subject to the regulations, that may be directed by the Authority by notice served on the holder.

(4) Returns must be lodged--

(a) subject to paragraph (b), within 6 weeks after each 31 March, 30 June, 30 September and 31 December, or

(b) at any other times as the Authority, by notice served on the licence holder, directs.

(5) The regulations may require returns, and documents accompanying returns, to be certified by an auditor or by an actuary.

(6) A licence holder who contravenes any requirement imposed on the holder by or under this section is guilty of an offence.

: Maximum penalty--500 penalty units.

(7) The Authority may make publicly available a copy of any return, and any documents accompanying a return, under this section.

(8) In this section and section 105W--

"accounting records" includes invoices, receipts, orders for the payment of money, bills of exchange, cheques, promissory notes, vouchers and other documents of prime entry, and also includes any working papers and other documents that are necessary to explain the methods and calculations by which accounts are made up.