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Keeping of books of account, etc. by societies.
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29.—(1) Every society shall cause to be kept proper books of account relating to all sums of money received and expended by it, the matters in respect of which income and expenditure take place and all assets and liabilities of the society.
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(2) For the purposes of subsection (1), proper books of account shall be deemed to be kept, in relation to the matters mentioned in that subsection, only if there are kept such books as are necessary to give a true and fair view of the state of the society's affairs and to explain its transactions.
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