Victorian Numbered Acts

ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 89

    (1)     An incorporated association must keep financial records that—

        (a)     correctly record and explain its transactions and financial position and performance; and

        (b)     would enable true and fair financial statements to be prepared in accordance with this Part.

Penalty:     10 penalty units.

    (2)     The incorporated association must retain the financial records for 7 years after the transactions covered by the records are completed.

Penalty:     10 penalty units.