Singapore legislation
Clause 31
Clause 31
Removal from Register of Public Accounting Corporations or Register of Public Accounting Firms
(1)
The Registrar shall remove from the Register of Public Accounting Corporations the name and relevant particulars of any accounting corporation if —
the accounting corporation has been wound up;
the approval of the accounting corporation under this Part has been revoked under Part VI; or
the accounting corporation has applied for its approval under this Part to be revoked.
(2)
The Registrar shall remove from the Register of Public Accounting Firms the name and relevant particulars of any accounting firm if —
the accounting firm has been dissolved;
the approval of the accounting firm under this Part has been revoked under Part VI; or
the accounting firm has applied for its approval under this Part to be revoked.
(3)
The Oversight Committee shall not grant an application by an accounting corporation or an accounting firm for the revocation of its approval under subsection (1)(c) or (2)(c), as the case may be, if —
it has received any complaint or information under Part VI against the accounting corporation or accounting firm or any public accountant practising therein;
disciplinary proceedings under Part VI are pending against the accounting corporation or accounting firm or any public accountant practising therein; or
the conduct of business of the accounting corporation or accounting firm is the subject of an inquiry or investigation by a Complaints Committee or a Disciplinary Committee under Part VI.
(4)
The Oversight Committee may also revoke its approval of an accounting corporation or an accounting firm and order the removal of its name and relevant particulars from the appropriate Register if it is satisfied that —
the approval of the accounting corporation or accounting firm under this Part has been obtained by fraud or misrepresentation;
the accounting corporation, or the sole proprietor or any partner of the accounting firm, as the case may be, has made an arrangement with its or his creditors;
the accounting corporation or accounting firm has ceased to provide public accountancy services in Singapore; or
the accounting corporation or accounting firm is no longer in a position to provide public accountancy services effectively.
(5)
The Oversight Committee shall, before exercising its powers under subsection (4), notify the accounting corporation or accounting firm concerned of its intention to take such action and shall give the accounting corporation or accounting firm an opportunity to submit reasons, within such period as the Oversight Committee may determine, as to why its approval under this Part should not be revoked.
(6)
Any person who is aggrieved by an order under subsection (4) may, within 30 days of being notified of the order, appeal to the Minister whose decision shall be final.