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Lodging annual accounts, etc.

Commodity Trading Regulations 2001

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—(1) Every commodity broker and spot commodity broker shall in respect of each financial year —(a)prepare a true and fair profit and loss account and a balance-sheet made up to the last day of the financial year; and(b)lodge the profit and loss account and balance-sheet with the Board within 3 months (or such extension as may be permitted by the Board under paragraph (2)) after the end of the financial year, together with an auditor’s report on the profit and loss account and balance-sheet.(2) Where an application for the extension of the period specified in paragraph (1) is made by a broker to the Board, and the Board is satisfied that there are special reasons to allow the extension, the Board may extend that period by 3 months or such other period as the Board may think fit subject to such conditions as the Board thinks fit to impose.(3) Any commodity broker or spot commodity broker who fails to comply with paragraph (1), or with any condition imposed under paragraph (2), shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.

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