2. Interpretation

In this Act, unless the context otherwise requires —“accounting standard” means —

an accounting standard made or formulated by the Committee under Part 3; or

an accounting standard for statutory bodies established by the Accountant-General under Part 4;[Deleted by Act 36 of 2022 wef 01/04/2023]“Authority” means the Accounting and Corporate Regulatory Authority established under the Accounting and Corporate Regulatory Authority Act 2004;“Chairperson” means the Chairperson of the Committee, and includes any temporary Chairperson of the Committee if so appointed;“Committee” means the Accounting Standards Committee appointed under section 4(1);“company” means any company incorporated under the Companies Act 1967 or any corresponding previous written law, and includes a foreign company registered under Division 2 of Part 11 of that Act in respect of its operations in Singapore;[Deleted by Act 36 of 2022 wef 01/04/2023]“making or formulating”, in relation to any accounting standard, includes amending and revoking the accounting standard;“member”, in relation to the Committee, means a member of the Committee and includes the Chairperson of the Committee;“Minister” means the Minister charged with the responsibility for finance;“statutory body” means a body —

established or constituted by or under a public Act;

that has a public function; and

whose annual report and audited financial statements are required by written law to be presented to Parliament.