Section 33

Subject to section 34, the Commission may, with the approval of the Minister, by order in the Gazette, amend the Third Schedule by adding to or deleting from that Schedule or otherwise varying any designated entity.

A designated entity is subject to any conditions that the Commission may specify.

Without affecting the Societies Act 1966 or any other legislation governing or regulating the designated entity, a designated entity may, with the concurrence of the Commission, modify any of its membership rules relating to chartered accountants in the manner provided in its membership rules.

In the event of any inconsistency between the membership rules of a designated entity relating to chartered accountants and this Act, this Act prevails to the extent of the inconsistency.

In this section, “membership rules”, in relation to a designated entity, includes but is not limited to the requirements for the registration, and renewal of the registration, of chartered accountants, codes of professional conduct, standards and ethics applicable to chartered accountants, and rules relating to disciplinary and other actions that may be taken by the designated entity against its members who are chartered accountants.