Singapore legislation

Clause 17

of Singapore Society of Accountants Ordinance

Clause 17

Specific powers of the Council

(1)

Without prejudice to the general powers conferred by section 16 of this Ordinance the Council shall have power —

(a)

from time to time to make by-laws to provide for all matters not expressly reserved for the Society in general meeting whether the same be expressed amongst its powers or not including the control of branches and the powers exercisable by them;

(b)

to prescribe the conditions for applicants for admission as members of the Society and for changes in the classification of members, either generally or in any particular case;

(c)

to found prizes for students and to lay down the conditions for their award as it deems fit;

(d)

at its discretion to appoint such officers, clerks, agents and servants for permanent, temporary or special services as it may from time to time deem fit and to determine their duties and terms of service;

(e)

to appoint from time to time the bankers and legal advisers of the Society;

(f)

to purchase, rent or otherwise acquire and furnish suitable premises for the use of the Society;

(g)

to take cognisance of anything affecting the Society or the professional conduct of its members and to bring before any general meeting of the Society any matter which it considers material to the Society or to the interests of the profession and make any recommendations and take such action as it deems fit in relation thereto;

(h)

with a view to extending the benefits of the Society, to communicate from time to time with other similar bodies and with members of the profession in other places for the purpose of obtaining and communicating information on all matters likely to prove beneficial or interesting to members and to negotiate and arrange with such bodies for the reciprocal recognition of the status of the members of the Society;

(i)

to institute, conduct, defend, compound or abandon any legal proceedings by and against the Society or its officers or otherwise concerning the affairs of the Society and to compound and allow time for payment or satisfaction of any debts due or of any claims or demands made by or against the Society;

(j)

to refer any claims or demands by or against the Society to arbitration and to observe and perform every award made as a result of such arbitration;

(k)

to make and give receipts, releases and other discharges for moneys payable to and for claims and demands of the Society;

(l)

to invest and deal with any moneys of the Society from time to time in securities authorised for the investment of trust funds by any written law for the time being in force;

(m)

from time to time to borrow or raise money by bank overdraft or otherwise by the issue of debentures or any other securities founded or based upon all or any of the property and rights of the Society or without any such security and upon such terms as to priority or otherwise as the Council shall deem fit;

(n)

from time to time as it deems fit to establish branches of the Society;

(o)

from time to time in its absolute discretion to delegate any of its powers, authorities and discretion to any branch of the Society on such conditions and for such period as it deems fit;

(p)

to appoint Committees of the Society for such purposes and with such powers as may be prescribed; and

(q)

to exercise all such powers, privileges and discretions as are not by this Ordinance expressly and exclusively required to be exercised by the members of the Society in general meeting.

(2)

A copy of all by-laws made by the Council under the provisions of this section shall be submitted to the Minister and shall be published in the Gazette.