Section 27Part 1 — Trusts Act
Accounts and records
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A trustee shall keep or cause to be kept accurate accounts and records (including underlying documentation) of the trustee ’ s trusteeship appropriate to the trust and trust property.
All accounts and records required to be kept under subsection (1) shall be retained for a minimum period of five years from the date on which they are prepared.
A trustee who knowingly and wilfully contravenes subsection (1) or (2) shall be subject to a penalty of five thousand dollars.