Northern Territory Consolidated Acts Northern Territory Consolidated Acts57. Business moneys other than trust moneys
(1) Subject to subsection (2), a licensed agent shall keep such accounting records as disclose particulars of:
(a) all moneys, other than trust moneys, received by the agent in the course of the agent's business as a licensed agent; and
(b) all payments out of those moneys made by the agent.
Penalty: If the offender is a natural person - 100 penalty units or imprisonment for 6 months.
If the offender is a body corporate - 500 penalty units.
(2) Subsection (1) does not apply to a licensed agent that:
(a) is a company carrying on business as an agent within and outside the Territory; and
(b) keeps accounting records, which include accounting records of a description referred to in subsection (1), in accordance with the requirements of the law of a State or another Territory of the Commonwealth that most closely corresponds to this Act and that relates to the keeping and audit of accounting records of companies.