Books of accounts to be kept by the society - (1)

Every society shall keep at its head office proper books of accounts with respect to :-

1. (a) all sums of money received and expended by the society and the matter in respect of which the receipt and expenditure take place; and
2. (b) the assets and liabilities of the society.

1. (2) The books of accounts shall be open to inspection by the office or members of the society or the Registrar during the office hours of the society.
2. (3) For the purpose of sub-section (2) proper books of accounts shall not be deemed to be kept with respect to the matters specified therein, if they do not give a true and fair view of the State of affairs of the society and explain its transactions.