s 48 Records, etc., of management corporation
48.—(1) A person who has possession or control of —(a) any records, books of account or keys belonging to a management corporation; (b) the strata roll kept by a management corporation; or (c) any other property of a management corporation, must, not later than the 7th day after service on the person of notice of a resolution of the council requiring the person to do so, deliver those records, books of account and keys and that strata roll and other property to a member of the council specified in the notice. [35/2017] (1A) Any person who, without reasonable excuse, contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000.[35/2017] (2) Every management corporation must retain all its records, books of account and any other documents relating to any of its transactions or operations for a period of not less than 5 years from the end of the financial year in which the transactions or operations to which those documents relate are completed. (3) Any management corporation which, without reasonable excuse, fails to comply with subsection (2) shall be guilty of an offence.