Singapore legislation

Clause 16

of Accountants (Amendment) Bill

Clause 16

Amendment of section 56

Section 56 of the principal Act is amended —

(a)

by inserting, immediately after subsection (1), the following subsection:“(1A) A public accountant —

(a)

whose registration is suspended under Part 5 or 5A; or

(b)

who is suspended from practice under Part 6,must not —

(c)

practise as a public accountant during the period of his or her suspension;

(d)

hold himself or herself out, in respect of the period for which he or she is suspended, to be a public accountant; or

(e)

advertise any title or description tending to convey the impression that he or she is, in respect of the period for which he or she is suspended, a public accountant registered under this Act, or that he or she is authorised to provide public accountancy services in Singapore.”;

(b)

by inserting, immediately after subsection (2), the following subsection:“(2A) An accounting corporation that is suspended from providing public accountancy services under Part 5A or 6, must not —

(a)

provide public accountancy services in Singapore during the period of its suspension;

(b)

advertise or hold itself out or describe itself in any way, in respect of the period for which it is suspended, to be an accounting corporation or to be authorised to provide public accountancy services in Singapore; or

(c)

use in connection with its name or with the name under which it carries on business, in respect of the period for which it is suspended —

(i)

the words “Public Accounting Corporation” or any abbreviation or derivative of those words;

(ii)

the acronym “PAC” at the end of its name; or

(iii)

any combination of the following:

(A)

the words mentioned in sub‑paragraph (i);

(B)

any abbreviation or derivative of the words mentioned in sub‑paragraph (i); (C)the acronym mentioned in sub‑paragraph (ii).”;

(c)

by inserting, immediately after subsection (3), the following subsection:“(3A) An accounting firm that is suspended from providing public accountancy services under Part 5A or 6, must not —

(a)

provide public accountancy services in Singapore during the period of its suspension; or

(b)

advertise or hold itself out or describe itself in any way, in respect of the period for which it is suspended, to be an accounting firm or to be authorised to provide public accountancy services in Singapore.”;

(d)

by inserting, immediately after subsection (4), the following subsection:“(4A) An accounting LLP that is suspended from providing public accountancy services under Part 5A or 6, must not —

(a)

provide public accountancy services in Singapore during the period of its suspension; or

(b)

advertise or hold itself out or describe itself in any way, in respect of the period for which it is suspended, to be an accounting LLP or to be authorised to provide public accountancy services in Singapore.”;

(e)

by deleting the words “subsection (1), (2), (3) or (4)” in subsections (5) and (6) and substituting in each case the words “subsection (1), (1A), (2), (2A), (3), (3A), (4) or (4A)”; and

(f)

by inserting, immediately after “LLP” in the section heading, the word “, etc.”.

Read in full context — Accountants (Amendment) Bill →