(1)  The governing council of a Tasmanian Health Organisation is to ensure that –

(a) accounting records that correctly record and explain the transactions (including any transactions as trustee) and financial position of the organisation are kept; and

(b) those records are kept in a manner that –

(i) allows true and fair accounts of the organisation to be prepared from time to time; and

(ii) allows the accounts of the organisation to be conveniently and properly audited or reviewed; and

(iii) complies with the Treasurer's Instructions; and

(iv) complies with any directions of the Treasurer given under subsection (2) ; and

(c) those records are retained for a period of not less than 7 years after the completion of the transaction to which they relate or another longer period that the Treasurer determines.

(2)  The Treasurer may give directions in writing to the governing council of a Tasmanian Health Organisation in relation to the manner or form in which accounting records are to be kept.