Clause 8

Every licensee shall keep complete records of all their transactions in such books, accounts, records and registers as the Authority may specify from time to time and shall produce such books, accounts, records and registers to the Authority as and when he is so directed in writing by the Authority.(2) Every licensee shall retain such books, accounts, records and registers for a period of at least 6 years after the day on which the transaction takes place.(3) Any licensee who contravenes or fails to comply with this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.Information to be furnished by licensees11B.—

Every licensee shall furnish to the Authority at such time and in such manner as the Authority may prescribe, returns and information as the Authority may reasonably require for the proper discharge of its functions.(2) Any licensee who fails to furnish any returns or information required under this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 and, in the case of a continuing offence, to a further fine of $1,000 for every day during which the offence continues after conviction.”.