Section 138: Requirements as to keeping books
consolidated text (as at 2000). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
138. Requirements as to keeping books
For the purposes of sections 133 (e) and 135 (e), a debtor or his agent
(in addition to the requirements of the Income Tax Act as to the keeping of
books) shall be deemed to have failed to keep the books required under the
Income Tax Act where he has not kept—
(a) the books in such a manner as to exhibit or explain his transactions and financial position in his trade or business, and as to
show entries from day to day in sufficient detail of all cash
received and paid;
(b) in the case of a trade or business dealing in goods, statements
of annual stocktakings, and accounts of all the goods sold and
purchased unless those goods are sold by way of retail trade to
the actual consumer, showing the buyers and sellers of the
goods in sufficient detail to enable those goods and their buyers
and sellers to be identified.
B4 – 53 [Issue 1]
Bankruptcy Act