Article 51 - Records to be kept by Branches
Branch shall keep proper accounting Records with respect to all sums of money received and expended by the Branch and all sales and purchases of goods and services and other transactions by the Branch and the assets and Liabilities of the Branch. Such Records shall be sufficient to show and explain all transactions by the Branch and must be such as to:
(A) disclose with reasonable accuracy the financial position of the
Branch at any time; and
(B) enable the
Members to ensure that any accounts prepared by the Branch comply with the requirements of these Regulations.
Branch's accounting Records shall be:
(A) kept at the
Branch's principal place of business;
(B) preserved by the
Branch for at least six years from the date to which they relate; and
(C) at all reasonable times open to inspection by
Members and the auditor of the relevant Non-QFC Limited Liability Partnership.
|Amended by QFCA RM2012-1 (as from 11th April 2012)|