Singapore legislation
Clause 26
Clause 26
Registration of chartered accountant
(1)
No person, except a designated entity, shall register, or renew the registration of, any person as a chartered accountant.
(2)
A designated entity may, on the application of any person made in accordance with the membership rules or other requirements of the designated entity, register the person as a chartered accountant if the person —
has completed, to the satisfaction of the Commission, such professional qualification programme as may be specified by the Commission for such class of persons to which that person belongs; (b)is a member of the designated entity;
satisfies the requirements relating to chartered accountants specified in the membership rules of the designated entity; and
satisfies such other requirements as may be prescribed.
(3)
Subject to subsections (4) and (5), every registration of a member of a designated entity as a chartered accountant under this Act —
shall be valid for one year, unless the registration ceases or is revoked earlier under this Act; and
upon its expiry and on an application made by the member in accordance with the membership rules of the designated entity, may be renewed by the designated entity for the same period.
(4)
A designated entity shall not renew the registration of a chartered accountant under subsection (3)(b) if he —
ceases to be a member of the designated entity;
does not satisfy any of the requirements relating to chartered accountants specified in the membership rules of the designated entity; or
does not satisfy any of such other requirements as may be prescribed.
(5)
Without prejudice to subsection (4), a designated entity shall not renew the registration of a chartered accountant under subsection (3)(b) while his membership in the designated entity is suspended.
(6)
Any person, other than a designated entity, that holds himself or itself out as a designated entity, or purports to register, or renew the registration of, any person as a chartered accountant, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 and, in the case of a second or subsequent offence, to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 6 months or to both.