In forceAmended2020 Revised Edition

Contents

Accounting and Corporate Regulatory Authority Act 2004 · 2020 Revised Edition · Part 2 · Establishment, Incorporation Andconstitution of Authority

5. Constitution of Authority

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Amended

Last amended by an amending law of 2014.

(1)

The Authority consists of the following members, all of whom must be appointed by the Minister:

(a)

a Chairperson;

(b)

not less than 10 but not more than 15 other members.

(2)

The members appointed under subsection (1)(b) are to include —

(a)

one public accountant to be selected by the Minister from a list of at least 2 public accountants nominated by each designated professional accountancy body; and

(b)

one non-practising accountant to be selected by the Minister from a list of at least 2 non‑practising accountants nominated by each designated professional accountancy body.

(3)

The Minister may appoint —

(a)

a member of the Authority to be its Deputy Chairperson; and

(b)

the Chief Executive to be a member.

(4)

The First Schedule has effect with respect to the Authority, its members and proceedings.

(5)

In subsection (2), “designated professional accountancy body” means a body specified in the Fourth Schedule.