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Financial Markets Conduct Act 2013

Financial reporting - Accounting records

458: Period for which accounting records to be kept

You could also call this:

"Keep financial records for at least 7 years"

Illustration for Financial Markets Conduct Act 2013

You need to keep accounting records for a certain amount of time. You must keep them for at least 7 years after the later of the date the records are made or the date a transaction is completed. This rule applies to accounting records kept under this part of the law.

You can find more information about this rule by looking at the Financial Reporting (Amendments to Other Enactments) Act 2013 which changed this law on 1 April 2014. This law was also related to an older law, s 53C. It is important to keep these records for the required amount of time.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4702251.

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Money and consumer rights > Banking and loansBusiness > Industry rules
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457: Accounting records to be in English, or

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459: Inspection of accounting records, or

"Letting people check your financial records"

Part 7Financial reporting
Accounting records

458Period for which accounting records to be kept

  1. Accounting records kept under this subpart, or copies of them, must be retained by the FMC reporting entity for a period of at least 7 years after the later of—

  2. the date the records are made; and
    1. the date of completion of the transaction to which the records relate.

      Compare
      Notes
      • Section 458: replaced, on , by section 48 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).