101. Business accounts, documents, etc., to be available for inspection

(1)    

(a)     Any person carrying on any business in the Republic shall keep within the Republic in one of the official languages such books, accounts and documents relating to his transactions as may be prescribed by rule and such books, accounts and documents shall be kept in such form and manner and shall be retained for such period as may be so prescribed.

[Paragraph (a) substituted by section 63 of Act 45 of 1995]

(b)     Different provisions may be so prescribed in respect of different classes or kinds of books, accounts and documents and different classes of persons.

(1A)  The Commissioner may, subject to such conditions as he may determine, allow any person referred to in subsection (1) to retain in lieu of any book, account or document required to be retained in terms of that subsection, a reproduction of any such book, account or document obtained by means of microfilming or any other process.

[Subsection (1A) inserted by section 12 of Act 98 of 1980]

(2)     Any person referred to in subsection (1) shall upon demand by the Controller or the Commissioner produce to him such books, accounts or documents referred to in subsection (1) as he may require and such person shall render such returns or submit such particulars in connection with his transactions to the Commissioner as he may from time to time require.

(2A)  The Commissioner may, subject to such conditions as he may determine, allow any such person to produce in lieu of any such book, account or document required to be produced in terms of subsection (2), a copy thereof obtained by means of a reproduction referred to in subsection (1A), and such copy shall, subject to compliance with such conditions, for all purposes have all the effects of the original book, account or document concerned.

[Subsection (2A) inserted by section 12 of Act 98 of 1980]

(2B)  Any person referred to in subsection (1) shall keep and produce on demand any electronic representations of information in any form.

[Subsection (2B) inserted by section 70 of Act 53 of 1999 and substituted by section 152 of Act 45 of 2003]

(3)     The Commissioner may by rule prescribe –

(a)     the books, accounts, documents, transactions or operations in respect of which a chartered accountant’s certificate shall be produced to the Controller by such class of persons referred to in subsection (1) as he may so prescribe; and

(b)     the nature and form of such certificate and the intervals at which such a certificate shall be produced.

[Subsection (3) amended by section 63 of Act 45 of 1995]

[Section 101 substituted by section 18 of Act 85 of 1968]