Clause 12

A public accountant may apply to the Registrar to renew his or her registration as a public accountant, if the public accountant —

is registered or deemed to be registered as a chartered accountant under Part 6B of the Accounting and Corporate Regulatory Authority Act 2004 and his or her registration is not suspended under that Part; and

satisfies the prescribed requirements.(2) For the purposes of subsection (1)(b), the prescribed requirements may relate to one or more of the following:

continuing professional education or other professional courses or training; (b)membership in any professional accountancy body or organisation.(3) The Oversight Committee may, subject to any condition that the Oversight Committee thinks fit to impose, exempt a particular applicant from any of the requirements mentioned in subsection (1)(a) or (b) if the Oversight Committee is satisfied that the applicant is fit to practise as a public accountant despite the applicant not satisfying the requirement.(4) An exemption under subsection (3) —

must be in writing and given to the applicant; and

need not be published in the Gazette.(5) An application mentioned in subsection (1) must —

unless the Registrar allows otherwise, be made to the Registrar at least one month (or any other period prescribed in substitution) before the date the registration expires;

be in the form and manner that the Registrar requires; and

be accompanied by —

the prescribed fee for the application; and

a declaration by the applicant verifying any information contained in or relating to the application as the Registrar may require.(6) Subject to subsections (7) and (8), the Registrar may renew the registration of an applicant if the Registrar is satisfied that the application satisfies the requirements in subsection (5), and the applicant meets —

the requirements for the renewal of registration in subsection (1) or, if the Oversight Committee has exempted, under subsection (3), the applicant from having to meet any requirement in subsection (1)(a) or (b) —

the other requirements for registration in subsection (1); and

the condition or (if more than one) all the conditions that the Oversight Committee has imposed on the applicant in relation to the exemption; and

any other requirement that the Oversight Committee may reasonably impose in a particular case.(7) The Registrar must refer an application mentioned in subsection (1) to the Oversight Committee for its decision if the Registrar is of the opinion that —

the applicant has not complied with any order made under section 38(1) or (2)(b);

the applicant has not satisfied any prescribed requirement mentioned in subsection (1)(b) that relates to continuing professional education or other professional courses or training; or

the applicant has not satisfied any requirement imposed under subsection (6)(b).(8) The Oversight Committee may, after considering an application under subsection (7), direct the Registrar to —

renew the applicant’s registration as a public accountant; or

refuse to renew the applicant’s registration as a public accountant.(9) Every renewal of registration of an applicant as a public accountant under this section is valid for the period starting on the date of renewal of registration to 31 December of the year in which the date of renewal of registration falls or for any longer period as may be prescribed.(10) An applicant who is aggrieved by a direction of the Oversight Committee to the Registrar to refuse to renew his or her registration may, within 30 days after being informed of the direction, appeal to the Minister whose decision is final.Conditions of registration or renewal of registration13A.—

In directing the Registrar to register an applicant as a public accountant under section 11(5) or renew an applicant’s registration as a public accountant under section 13(8), the Oversight Committee may impose any condition in respect of the registration or renewal of registration that the Oversight Committee thinks fit.(2) Without limiting subsection (1), the conditions that the Oversight Committee may impose include conditions —

restricting the type of public accountancy service or services that the public accountant may provide; and

requiring the public accountant to complete a specified professional course or training within a specified period of time.(3) The Oversight Committee may at any time (without compensation) modify, remove or add conditions in respect of the registration or renewal of registration of an applicant as a public accountant, in any manner that the Oversight Committee thinks fit.(4) Before the Oversight Committee modifies or adds any condition under subsection (3), the Oversight Committee must give the public accountant a written notice of the Oversight Committee’s intention to do so.(5) The written notice must —

state the modification or addition that the Oversight Committee proposes to make; and

specify the time (being at least 14 days after the date the notice is given to the public accountant) within which written representations may be made to the Oversight Committee in relation to the proposed modification or addition.(6) On receiving any written representation mentioned in subsection (5)(b), the Oversight Committee must consider the representation and may —

reject the representation;

amend the proposed modification or addition in the manner that the Oversight Committee thinks fit having regard to the representation; or

withdraw the proposed modification or addition.(7) The Oversight Committee must give the public accountant a written notice of the Oversight Committee’s decision under subsection (6) and, where subsection (6)(a) or (b) applies, the notice must specify the date from which the proposed modification or addition as specified in the notice under subsection (5) or as amended under subsection (6)(b) (as the case may be) takes effect.”.