Section 20: Obligation to keep records for purposes of costing and mark-up

20. Obligation to keep records for purposes of costing and mark-up (1) Every trader who imports or manufactures controlled goods shall, in respect of those goods, keep, at all times, a full and true written record, whether electronically or otherwise, in the English or French language, showing— (a) how the cost of the goods imported or manufactured has been arrived at; (b) the selling price of those goods and the mark-up; and (c) the stock of the goods. (2) Every record under subsection (1) shall be kept for a period of at least 5 years after the completion of the transaction to which it relates. (3) Any person who fails to comply with this section shall commit an offence. [S. 20 repealed and replaced by s. 6 (b) of Act 14 of 2005 w.e.f. 21 April 2005.]