Mutual Banks Act, 1993 (Act No. 124 of 1993)

Chapter IV : Administration of Mutual Banks

42. Accounting records
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Every mutual bank shall keep in one of the official languages of the Republic such accounting records as are necessary—

(a)to fairly present the state of affairs and business of the mutual bank;
(b)to explain the transactions and financial position of the business of the mutual bank; and
(c)to enable the Registrar to determine whether the mutual bank has complied with the provisions of this Act, and shall presence every such record in a safe place for a period of at least 15 years as from the date of the last entry therein.