Customs and Excise Act, 1964 (Act No. 91 of 1964)Customs and Excise RulesChapter VIII : Registration, Licensing and Accredited ClientsRules for Section 64B of the ActKeeping of books, accounts and documents |
| 64B.02(2, 3, 4) | Keeping of books, accounts and documents |
| (a) | The rules for section 101 concerning the keeping of books, accounts and documents shall apply mutatis mutandis. |
| (b) | In addition to paragraph (a) clearing agents must keep— |
| (i) | records and books of account and banking records indicating all financial transactions made while transacting any business as a licensed clearing agent; and |
| (ii) | copies of all correspondence, bills, accounts, statements and other documents received or prepared by a licensed clearing agent that relate to the transaction of business as a licensed clearing agent. |
| (c) | Every licensed clearing agent shall retain the records specified in paragraphs (a) and (b), notwithstanding any other provision in any rule contained, for a period of five years calculated from the end of the calendar year in which any such document was created, lodged or required for the purposes of any customs and excise procedure. |