(1) An international business company shall keep such accounts and records as the directors consider necessary or desirable in order to reflect the financial position of the international business company.
(2) An international business company shall keep—
(a) minutes of all meetings of—
(i) directors,
(ii) members,
(iii) committees of directors,
(iv) committees of officers, and
(v) committees of members; and
(b) copies of all resolutions consented to by—
(v) committees of members.
(3) The books, records and minutes required by this section shall be kept at the registered office of the company.
(4) An international business company shall have a common seal and an imprint thereof shall be kept at the registered office of the international business company.
(5) An international business company that wilfully contravenes this section is liable to a penalty of $50 for each day or part thereof during which the contravention continues, and a director, who knowingly permits the contravention, is liable to a like penalty.