30. Application of Companies Act and other prescribed written law to accounting corporations

Nothing in this Part, with the exception of section 20(2), shall affect the operation of the Companies Act (Cap. 50) in relation to its application to a company that is an accounting corporation.

An accounting corporation shall, notwithstanding that the shares in the accounting corporation are held by more than 20 members, be deemed to be an exempt private company for the purposes of the Companies Act (Cap. 50).

An accounting corporation shall not be treated for the purposes of the Companies Act as a public company merely because it has more than 50 members.

Such provisions of any written law having effect in relation to public accountants or accounting firms as may be prescribed, shall have effect in relation to accounting corporations with such prescribed modifications as may be necessary or expedient; and such provisions shall be construed accordingly.[18L