Singapore legislation
Clause 53
Clause 53
Consequential and related amendments to other Acts
(1)
The Accountants Act (Cap. 2, 2005 Ed.) is amended —
by inserting, immediately after subsection (1) of section 2, the following subsection:“(1A) In this Act, a reference to improper conduct by, of or on the part of a public accountant, an accounting corporation, an accounting firm or an accounting LLP includes any breach of any code of professional conduct and ethics prescribed by rules made under section 64, including any code of professional conduct and ethics adopted by reference in those rules.”; and
by deleting subsection (3) of section 64 and substituting the following subsections:“(3) In making rules for the purpose of subsection (2)(e), the Authority may adopt by reference (whether wholly or in part) any standard, method or procedure issued or applied by any professional accountancy body or organisation, whether in Singapore or elsewhere.(4) In making rules for the purpose of subsection (2)(f), the Authority may adopt by reference (whether wholly or in part) any code of professional conduct and ethics issued or applied by any professional accountancy body or organisation, whether in Singapore or elsewhere.(5) In this section, a reference to a code of professional conduct and ethics includes any code or ethics pronouncement that seeks to give effect (whether wholly or in part) to the recommendations issued or adopted by the intergovernmental body known as the Financial Action Task Force relating to the prevention of money laundering and the financing of terrorism.”.
(2)
Section 17(1) of the Business Names Registration Act 2014 (Act 29 of 2014) is amended by deleting the words “or 378(15)” in paragraph (c) and substituting the words “, section 27(12B) as applied by section 357(2), or section 378(15)”.
(3)
Section 2(1) of the International Interests in Aircraft Equipment Act (Cap. 144B, 2012 Ed.) is amended —
by deleting the word “or” at the end of paragraph (d) of the definition of “commencement of insolvency proceedings”, and by inserting immediately thereafter the following paragraph:“(da)in the case of a compromise or an arrangement under section 211I of the Companies Act, the date of the application under section 211I(1) of that Act; or”; and
by inserting, immediately after the words “section 210” in paragraph (c) of the definition of “insolvency proceedings”, the words “or 211I”.
(4)
Section 19A(1) of the Limited Liability Partnerships Act (Cap. 163A, 2006 Ed.) is amended by deleting the words “or 378(15)” in paragraph (c) and substituting the words “, section 27(12B) as applied by section 357(2), or section 378(15)”.
(5)
Section 17A(1) of the Limited Partnerships Act (Cap. 163B, 2010 Ed.) is amended by deleting the words “or 378(15)” in paragraph (c) and substituting the words “, section 27(12B) as applied by section 357(2), or section 378(15)”.
(6)
The Telecommunications Act (Cap. 323, 2000 Ed.) is amended by inserting, immediately after the words “section 210” in sections 32J(3)(a) and 32L(1)(b) and (2)(a), the words “or 211I”.