In forceUpdated to 9 Jun 2025

Contents

Corporate Service Providers Act 2024 · Updated to 9 Jun 2025 · Part 4 · Regulatory Actions

20. Cancellation of registration of registered qualified individuals

(1)

The Registrar may cancel the registration of a registered qualified individual (X) (not being a deemed registered qualified individual) —

(a)

if X ceases to be a qualified individual;

(b)

if the Registrar is satisfied that X is not a fit and proper person;

(c)

if X’s registration was obtained through fraud or misrepresentation; or

(d)

if X applies to the Registrar for X’s registration to be cancelled.

(2)

The Registrar may cancel the registration of a deemed registered qualified individual (Y) —

(a)

if Y ceases to be a key appointment holder of the deemed registered corporate service provider of which Y is deemed as a registered qualified individual, or a public accountant;

(b)

if the registration of the deemed registered corporate service provider is cancelled under section 18(2) or 19(2) or (3);

(c)

if the Registrar is satisfied that Y is not a fit and proper person; or

(d)

if Y applies to the Registrar for Y’s registration to be cancelled.

(3)

The Registrar may refuse to cancel a registration under subsection (1)(d) or (2)(d) until the requirements in subsection (4) are met, if the Registrar suspects —

(a)

in relation to X, that X has contravened or failed to comply with —

(i)

any of the conditions of the registration; or

(ii)

any requirement under this Act or the regulations, the contravention of or non‑compliance with which is not an offence under this Act; or

(b)

in relation to Y, that Y has contravened or failed to comply with any requirement under this Act or the regulations, the contravention of or non‑compliance with which is not an offence under this Act.

(4)

For the purposes of subsection (3), the requirements to be met are —

(a)

the Registrar has investigated the suspected contravention or non‑compliance; and

(b)

the Registrar has determined that —

(i)

there was no contravention or non‑compliance;

(ii)

there was a contravention or non‑compliance and has taken regulatory action under section 21 for it; or

(iii)

there was a contravention or non‑compliance and has decided not to take regulatory action under section 21 for it.

Terms defined in s 2

deemed registered corporate service provider
Defined · s 2
“deemed registered corporate service provider” means an accounting entity that is treated under section 7(2) as registered under section 8 as a registered corporate service provider;
Open s 2
deemed registered qualified individual
Defined · s 2
“deemed registered qualified individual” means a key appointment holder of a deemed registered corporate service provider who is treated under section 15(3) as registered under section 10 as a registered qualified individual;
Open s 2
key appointment holder
Defined · s 2
“key appointment holder”, in relation to any person (X), means any of the following persons:(a)where X is a sole proprietorship — the sole proprietor;(b)where X is a partnership or limited partnership — a partner of the partnership or limited partnership;(c)where X is a company —(i)a member of the board of directors; or(ii)an individual for the time being holding the office of chairperson or chief executive officer of the company;(d)where X is a limited liability partnership — a partner or manager of the limited liability partnership;(e)any person, other than a person mentioned in paragraph (a), (b), (c) or (d), by whatever name called, who is principally responsible for the management and conduct of X’s business activities in providing corporate services;
Open s 2
public accountant
Defined · s 2
“public accountant” has the meaning given by section 2(1) of the Accountants Act 2004;
Open s 2
qualified individual
Defined · s 2
“qualified individual” means an individual who satisfies such criteria as may be prescribed for this definition;
Open s 2
registered qualified individual
Defined · s 2
“registered qualified individual” means a qualified individual who is registered under this Act, and includes —(a)a deemed registered qualified individual; and(b)a person who is treated under section 44(1) as registered under section 10 as a registered qualified individual;
Open s 2
Registrar
Defined · s 2
“Registrar” means the Registrar of Corporate Service Providers appointed under section 5(2)(a), and includes any Deputy Registrar or Assistant Registrar;
Open s 2
registration
Defined · s 2
“registration” means registration of a registered corporate service provider or registered qualified individual, as the case may be;
Open s 2
regulations
Defined · s 2
“regulations” means any regulations made under section 35;
Open s 2