(1)  A registered club must keep accounting records that correctly record and explain its transactions and financial position and must do so in a manner that –

(a) allows true and fair accounts of the club to be prepared; and

(b) allows its accounts to be conveniently and properly audited or reviewed; and

(c) complies with Australian Accounting Standards and any directions given to it by the Director.

(2)  The registered club must allow the accounting records to be inspected at any reasonable time, free of charge, by –

(a) the Director or any person who is authorised for the purpose by the Director; or

(b) any member of the club.

(3)  A person who is entitled to inspect the registered club's accounting records may make copies of, or take extracts from, all or any of those records free of charge.

(4)  Within 60 days after the end of each of its financial years, a registered club must –

(a) prepare, for that financial year, financial statements that include any information required by the Director; and

(b) give the Director copies of those financial statements; and

(c) have those financial statements, and its accounting records for the same financial year, audited as required by the Director.

(5)  The Director may direct a club to have all or any of its accounts or records audited by the Auditor-General.