(1) A proprietor who manages or controls money of a resident must maintain an accurate and up to date record of—
(a) any incoming money that the proprietor manages or controls on behalf of the resident; and
(b) any expenditure of the money that the proprietor manages or controls on behalf of the resident.
Penalty: 60 penalty units, in the case of a natural person;
300 penalty units, in the case of a body corporate.
(2) A proprietor who manages or controls money of a resident must ensure that records kept under subsection (1) individually itemise each transaction made on behalf of the resident.
Penalty: 10 penalty units, in the case of a natural person;
50 penalty units, in the case of a body corporate.