South Australian Current Regulations

COMMUNITY TITLES REGULATIONS 2011 - REG 23

23—Records (sections 136 and 137 of Act)

        (1)         Documents of the following kinds must be kept by community corporations:

            (a)         receipts for the expenditure of money;

            (b)         passbooks, deposit books and all other documents providing evidence of the deposit or investment of money;

            (c)         ADI statements and all other documents providing evidence of dealing with money invested or on deposit.

        (2)         All documents and records kept by a corporation must be kept in an orderly manner to enable them to be found easily for the purposes of inspection or copying.

        (3)         The following periods are prescribed under sections 136 and 137(2) of the Act as the period for which a corporation must keep its records and documents:

            (a)         minutes of meetings—30 years;

            (b)         accounting records—7 years;

            (c)         any statements of account—7 years;

            (d)         notices or orders served on the corporation—7 years;

            (e)         correspondence—7 years;

            (f)         notices of meetings—7 years.