Section 114
( 1)
of Securities Markets Regulations, 2015
Every operator of a collective investment scheme must keep accounting records which are sufficient to show and explain transactions and fa)
capable of disclosing the financial position of the collective investment scheme on an ongoing basis; and
{b)
record the financial position of the collective investment scheme as at the end. of its financial year.
(2)
Accounting records must be maintained by an operator of a collective investment scheme so as to enable the board of directors and, if appointed, a trustee or any person providing oversight of the collective investment scheme, to ensure that any accounts prepared by the operator in relation to the collective investment scheme comply with any written laws in Brunei Darussalam.
(3)
The accounting records must be fa)
retained by the operator or collective investment scheme for at least 7 years from the date to which they relate;
{b)
at all reasonable times, open to inspection by the Authority or the auditor of the collective investment scheme; and
{c)
capable of reproduction, within a reasonable period not exceeding 3 business days, in hard copy and in the English language.