Clause 1
Short title and commencement
This Ordinance may be cited as the Singapore Society of Accountants Ordinance, 1963, and shall come into operation on such day as the Minister may by notification in the Gazette appoint.
/akn/sg/act/bill/1963/192
Singapore Society of Accountants Ordinance
The full official text, structured for quick navigation. Copy any provision or jump straight to a section.
- Type
- Bill
- Status
- In force
- Enacted
- 1963
- Sections
- 50
Quick answer
About this bill
Singapore Society of Accountants Ordinance is Singapore Bill, cited as Bill 192 1963, currently marked in force and first recorded in 1963.
Part I
PRELIMINARY
Clause 2
Interpretation
In this Ordinance —“appointed day” means the day appointed by the Minister under section 1 of this Ordinance;“association of accountants” means any institute, society, association or other body of accountants recognised as such by the Society;“Committee” means any Committee established under this Ordinance and the rules and by-laws made thereunder;“Council” means the Council of the Society established under section 9 of this Ordinance;“Disciplinary Committee” means the Disciplinary Committee appointed under section 32 of this Ordinance;“fundamental rule” means any rule of the Society which is so declared as such in the rules of the Society;“Investigation Committee” means the Investigation Committee appointed under section 32 of this Ordinance;“licensed accountant” means a member of the Society who is registered in accordance with the provisions of this Ordinance as a licensed accountant;“member” means a member of the Society who is registered in accordance with the provisions of this Ordinance as a public accountant, or registered accountant or provisional member or licensed accountant;“provisional member” means a person who is for the time being registered as a provisional member of the Society;“public accountant” means a member of the Society who is registered in accordance with the provisions of this Ordinance as a public accountant;“register” means the register of accountants required to be kept in accordance with the provisions of section 23 of this Ordinance;“registered accountant” means a member of the Society who is registered in accordance with the provisions of this Ordinance as a registered accountant;“Registrar” means the Registrar appointed under the provisions of section 22 of this Ordinance;“Society” means the Singapore Society of Accountants established by section 3 of this Ordinance.
Definition
“appointed day” means the day appointed by the Minister under section 1 of this Ordinance;
Definition
“association of accountants” means any institute, society, association or other body of accountants recognised as such by the Society;
Definition
“Committee” means any Committee established under this Ordinance and the rules and by-laws made thereunder;
Definition
“Council” means the Council of the Society established under section 9 of this Ordinance;
Definition
“Disciplinary Committee” means the Disciplinary Committee appointed under section 32 of this Ordinance;
Definition
“fundamental rule” means any rule of the Society which is so declared as such in the rules of the Society;
Definition
“Investigation Committee” means the Investigation Committee appointed under section 32 of this Ordinance;
Definition
“licensed accountant” means a member of the Society who is registered in accordance with the provisions of this Ordinance as a licensed accountant;
Definition
“member” means a member of the Society who is registered in accordance with the provisions of this Ordinance as a public accountant, or registered accountant or provisional member or licensed accountant;
Definition
“provisional member” means a person who is for the time being registered as a provisional member of the Society;
Definition
“public accountant” means a member of the Society who is registered in accordance with the provisions of this Ordinance as a public accountant;
Definition
“register” means the register of accountants required to be kept in accordance with the provisions of section 23 of this Ordinance;
Definition
“registered accountant” means a member of the Society who is registered in accordance with the provisions of this Ordinance as a registered accountant;
Definition
“Registrar” means the Registrar appointed under the provisions of section 22 of this Ordinance;
Definition
“Society” means the Singapore Society of Accountants established by section 3 of this Ordinance.
Part V
PROFESSIONAL CONDUCT
Clause 31
Regulation of conduct of members
(1)
The Council may, in addition to any fundamental rules relating to professional conduct made under this Ordinance, make by-laws for the inculcation of sound practice, the prevention of illegal and dishonourable practices and the promotion of the interests of the profession of accountancy and may prohibit such acts and regulate the conduct of members of the Society in that regard as it thinks fit.
(2)
The Council may provide penalties (including forfeiture of membership) for members of the Society who may commit a breach or fail to observe the provisions of any such by-law.
(3)
A copy of all by-laws made by the Council under the provisions of this section shall be submitted to the Minister and shall be published in the Gazette.
Clause 32
Appointment of Investigation and Disciplinary Committees
At the first meeting of the Council held after each annual general meeting of the Society, the Council shall appoint the following Committees: —
(a)
an Investigation Committee comprising three members of the Council of whom two shall form a quorum; and
(b)
a Disciplinary Committee comprising four members of the Council who shall not be members of the Investigation Committee and of whom three shall form a quorum.
Clause 33
Complaints against members
(1)
Any person who seeks to make a formal complaint that any member of the Society has done anything which renders the exercise of the powers of the Disciplinary Committee expedient in the interests of the public or of the Society shall make such complaint in the first instance to the Registrar of the Society.
(2)
Every such complaint (other than a complaint made by a Court) shall be in writing and shall be supported by such statutory declarations as the Registrar may require.
(3)
Where the Registrar has received any complaint as aforesaid or where facts are brought to his knowledge which satisfy him that there may be grounds for such a complaint it shall be the duty of the Registrar to lay such complaint or facts, as the case may be, before the Investigation Committee which shall investigate the matter and determine whether or not it is to be referred to the Disciplinary Committee.
(4)
For the purposes of any such investigation the Investigation Committee may —
(a)
call upon or employ any person to make whatever preliminary inquiries it deems necessary;
(b)
require the production for inspection by the Investigation Committee or any person so employed of any books, documents or papers which may relate to or be connected with the subject matter of the investigation; and
(c)
require the member concerned to give all information in relation to any such books, documents or papers which may be reasonably required by the Investigation Committee or by the Investigation Committee or by the person so employed.
(5)
Any member of the Society who without lawful excuse refuses or fails to produce to the Investigation Committee or to any person whom the Committee may employ for the purpose of investigation, any books, documents or papers required of him as aforesaid or fails to give any such information relating thereto shall be guilty of an offence and shall be liable on conviction to a fine not exceeding five hundred dollars.
(6)
Before any investigation begins in respect of any matter —
(a)
the Registrar shall post or deliver to the member concerned —
(i)
copies of the written complaint (if any) and of all statutory declarations that have been made in support of the complaint; and
(ii)
a notice setting out any further particulars that may be necessary to disclose the reason for the investigation and inviting the member concerned, within such period (not being less than fourteen days) as may be specified in the notice, to give to the Registrar any written explanation he may wish to offer and to advise the Registrar if he wishes to be heard by the Investigation Committee; and
(b)
the Investigation Committee shall allow the time specified in the notice to elapse and shall give the member concerned reasonable opportunity to be heard if he so desires and shall give due consideration to any explanation he may make.
(7)
When the Investigation Committee determines that any matter investigated by it under this section should be referred to the Disciplinary Committee it shall be the duty of the Chairman of the Investigation Committee to refer the matter to the Disciplinary Committee.
(8)
Subject to the provisions of this Ordinance and to the rules of the Society, the Investigation Committee may regulate its own procedure as it deems fit.
Clause 34
Powers of Disciplinary Committee
(1)
If any member of the Society —
(a)
is convicted of an offence involving dishonesty; or
(b)
is judged by the Disciplinary Committee to have been guilty of grave impropriety or infamous conduct in a professional respect or to have been guilty of gross carelessness or gross neglect or gross incapacity in the performance of his professional duties or to have been guilty of any act or default discreditable to an accountant or to have conducted himself in such a manner as to render the exercise of the powers of the Disciplinary Committee expedient in the interests of the public or of the Society; or
(c)
is a bankrupt who has not obtained his order of discharge or whose order of discharge is suspended for a term not yet expired or is subject to conditions not yet fulfilled; or
(d)
has within three years immediately preceding the date on which the Disciplinary Committee seeks to exercise the disciplinary power conferred upon it by subsection (3) of this section individually or as a partner assigned substantially the whole of his estate for the benefit of his creditors or under an order of any Court or has under any deed or instrument placed substantially the whole of his estate in the hands of an assignee or trustee for the benefit of his creditors or made any arrangements for payment of a composition to his creditors,the Disciplinary Committee may if it deems fit, on the matter being referred to it by the Investigation Committee and after due inquiry has been made in accordance with the rules of the Society, exercise in respect of such member all or any of the disciplinary powers conferred upon it by subsection (3) of this section.
(2)
If any member of the Society is judged by the Disciplinary Committee to have been guilty of unprofessional conduct or of a breach of any fundamental rule of the Society or of a breach of any by-law made by the Council in pursuance of the provisions of section 31 of this Ordinance or if any member who is a public accountant engages in any other business which in the opinion of the Disciplinary Committee is inconsistent with the integrity of a public accountant, the Disciplinary Committee may if it deems fit, on the matter being referred to it by the Investigation Committee and after due inquiry has been held in accordance with the rules of the Society, exercise in respect of such member all or any of the disciplinary powers conferred upon it by paragraphs (c), (d), and (e) of subsection (3) of this section.
(3)
The Disciplinary Committee shall at its discretion have power —
(a)
subject to the provisions of subsection (4) of this section, to cause the name of a member of the Society to be removed from the register and thereupon such member shall cease to be a member of the Society;
(b)
subject to the provisions of subsection (4) of this section, by writing under the hand of its Chairman, to suspend a member of the Society for any period not exceeding five years;
(c)
by writing under the hand of its Chairman, to impose a penalty upon a member of the Society not exceeding five hundred dollars:Provided that no such penalty may be imposed under this paragraph in any case where the Disciplinary Committee is proceeding under paragraph (a) of subsection (1) of this section or where the Disciplinary Committee is inquiring into any act or omission which constitutes an offence under any written law for which such member has been convicted by any Court and which is punishable by imprisonment or fine;
(d)
by writing under the hand of its Chairman, to censure a member of the Society; and
(e)
by writing under the hand of its Chairman, to order a member of the Society to pay to the Society such sum as it deems fit in respect of costs and expenses of and incidental to any inquiry held by the Disciplinary Committee and any investigation held by the Investigation Committee.
(4)
The name of a member of the Society shall not be removed from the register under paragraph (a) of subsection (3) of this section and no member of the Society shall be suspended from membership of the Society under paragraph (b) of subsection (3) of this section by reason of any offence committed before the date of his registration if at that date the Council was aware of his conviction in respect of that offence.
(5)
Every monetary penalty imposed and all costs and expenses payable under this section shall be recoverable as a debt due to the Council.
(6)
While any member of the Society remains suspended from membership of the Society, such member shall be deemed not to be a member of the Society but immediately upon the expiry of his period of suspension, his rights and privileges as a member of the Society shall forthwith be revived.
(7)
No decision of the Disciplinary Committee shall take effect while a member of the Society to whom the decision relates remains entitled to appeal against such decision in accordance with the provisions of section 35 of this Ordinance or while any such appeal by him awaits determination by the Court.
(8)
The Disciplinary Committee may appoint a legal adviser who may be present at any inquiry into any matter to advise the Disciplinary Committee on all matters of law.
Clause 35
Appeal against decision of Disciplinary Committee
(1)
Any member of the Society aggrieved by any decision of the Disciplinary Committee may, within a period of twenty-one days or within such further period as may be allowed by the Disciplinary Committee on the application of such member in any particular case, after the service on him of the notice of such decision, appeal to the High Court.
(2)
Subject to the provisions of subsection (1) of this section, the procedure governing such appeals to the High Court shall be the same as for appeals to the High Court from decisions of District Courts in civil matters.
Clause 3
The Society
There shall be established in accordance with the provisions of this Ordinance a body to be called the “Singapore Society of Accountants”.
Clause 4
Members of the Society
The Society shall consist of such persons as are for the time being registered as members thereof in accordance with the provisions of this Ordinance.
Clause 5
Nature of the Society
The Society shall be a body corporate with perpetual succession and a common seal, and with power, subject to the provisions of this Ordinance, to sue and be sued in its corporate name and to acquire and dispose of property, both movable and immovable and to do and to perform such other acts as bodies corporate may by law perform.
Clause 6
Purposes of the Society
The purposes of the Society shall be —
(a)
to register accountants and to regulate the practice of the profession of accountancy in Singapore;
(b)
to provide for the training, education and examination, by the Society or any other body, of persons practising or intending to practise the profession of accountancy in Singapore and elsewhere;
(c)
to determine the qualifications of persons for admission to membership in the Society and for registration under this Ordinance;
(d)
to grant or issue diplomas or certificates to members of the Society;
(e)
to promote, in any manner which the Society thinks fit, the interests of the profession of accountancy in Singapore;
(f)
to grant prizes and scholarships, to hold exhibitions and to establish and subsidise lectureships in universities and other educational institutions in subjects of study relating to accountancy or to the duties of an accountant;
(g)
to grant pecuniary or other assistance to any association, institute or society established in Singapore in the interests of the profession of accountancy or of students for that profession;
(h)
to afford pecuniary and other assistance to members of the Society who are in need of any such assistance, and to the wives and children and other dependants of members and to the widows and children and other dependants of deceased members.
Clause 7
General powers of the Society
The Society may —
(a)
purchase or lease any lands required for any of the purposes of this Ordinance;
(b)
take up and subscribe for or otherwise acquire shares in any company, if membership of the company is essential or advantageous to the Society in connection with the acquiring and holding of any lease or tenancy from the company of land required for any of the purposes of this Ordinance;
(c)
except in the case of leases from month to month, sell, surrender, lease, exchange or mortgage any land or building vested in it either in block or in parcels as may be found most convenient or advantageous;
(d)
borrow money whether by way of bank overdraft or otherwise for such of the purposes of the Society as the Council may from time to time consider desirable;
(e)
guarantee any contract of any company from which the Society holds or intends to hold any lease or tenancy in accordance with the provisions of paragraph (b) of this section and any other contract in which the Society may have a financial interest and to which it may lawfully be a party in accordance with the provisions of this section; and
(f)
do all things which are necessary for carrying out the purposes of the Society.
Clause 8
Rules of the Society
(1)
The Society, with the approval of the Minister, may generally from time to time at any general meeting make such rules as may be necessary or expedient for giving effect to the provisions of this Ordinance and for the due administration thereof and may in particular at such meetings make rules to provide for any of the following matters: —
(a)
the regulation of the practice of the profession of accountancy in Singapore;
(b)
the admission of members to the Society, the fees payable by such members on admission and the manner in which such members shall cease to be members thereof;
(c)
the election, appointment, resignation and removal of members of the Council;
(d)
the election, appointment, resignation and removal of the President, the Vice-President and the Treasurer of the Society;
(e)
the holding of meetings of the Council and of the members of the Society;
(f)
the training, education or examination of candidates for admission as members of the Society and the fees payable therefor;
(g)
the use and custody of the common seal of the Society;
(h)
the qualifications of persons for admission as members of the Society;
(i)
the classification from time to time of the members of the Society;
(j)
the custody, investment and expenditure of the funds and property of the Society;
(k)
the manner of voting at any meeting of the Council or of the members of the Society and at any election held by the Society;
(l)
the procedure of the Investigation Committee and the Disciplinary Committee;
(m)
the publication in the Gazette, newspapers and elsewhere of proceedings and findings of the Disciplinary Committee;
(n)
the registration as provisional members of persons who have completed the prescribed examinations but have not fulfilled the prescribed requirements relating to practical experience;
(o)
the practical experience required for registration as public accountants or registered accountants and the authority of the Council or any Committee thereof to approve places of employment in which such practical experience may be obtained; and
(p)
the regulation and administration of the Society in all matters within its powers.
(2)
All such rules shall be published in the Gazette and shall be presented to the Legislative Assembly as soon as may be after publication and if a resolution is passed pursuant to a motion notice whereof has been given for a sitting day not later than the first available sitting day of the Assembly next after the expiry of one month from the date when such rules are so presented annulling the rules or any part thereof as from a specified date, such rules or such part thereof as the case may be shall thereupon become void as from such date but without prejudice to the validity of anything previously done thereunder or to the making of new rules.
Clause 9
Constitution of Council
(1)
For the purposes of this Ordinance there shall be established a Council of the Society consisting of the following members: —
(a)
the Accountant-General;
(b)
a representative of the Ministry of Finance to be appointed by the Minister;
(c)
four public accountants to be elected by the members of the Society who are registered under the provisions of this Ordinance as public accountants;
(d)
four registered accountants to be elected by the members of the Society who are registered under the provisions of this Ordinance as registered accountants; and
(e)
a representative of the Department of Accountancy in the Singapore Polytechnic established by the Singapore Polytechnic Ordinance (Cap. 204) to be appointed by the Minister on the nomination of the Board of Governors of the Singapore Polytechnic.
(2)
The Minister may by notification in the Gazette vary the constitution of the Council to the extent of providing for the appointment of two additional members each of whom shall be a representative of a university or other educational institution which provides courses of instruction in accountancy at the professional level.
(3)
The President and the Vice-President of the Society shall be elected by the Council from amongst its members and in the event of any casual vacancy arising in respect of the office of the President or of the Vice-President of the Society, the Council shall at its next meeting or as soon as may be thereafter elect one of its members to fill such vacancy.
(4)
The President of the Society shall be the Chairman of the Council and shall preside at all its meetings. In the absence of the President of the Society at any meeting of the Council, the Vice-President of the Society shall preside and in the absence of the President and the Vice-President of the Society at any such meeting the Council shall elect a Chairman from amongst its members.
Clause 10
Appointed members
(2)
An appointed member shall unless his appointment is revoked by the Minister or unless he resigns during his term of office, hold office for a period of three years and shall be eligible for re-appointment on completion of that period.
(3)
Any casual vacancy arising among the appointed members shall be filled by the Minister and any such new member shall hold office for so long as the member in whose place he is appointed would have held office.
Clause 11
First elected members
(1)
Notwithstanding the provisions of section 9 of this Ordinance, the first four members referred to in paragraph (c) of subsection (1) of that section shall be appointed by the Minister from among persons who would be eligible for registration under this Ordinance as public accountants and shall hold office from the dates of their appointments until the first annual general meeting of the Society when their places shall be filled by public accountants elected by the members of the Society in accordance with the rules made under the provisions of this Ordinance:Provided that any such retiring member of the first Council shall be eligible for re-election if he is registered as a public accountant in accordance with the provisions of this Ordinance.
(2)
Notwithstanding the provisions of section 9 of this Ordinance, the first four members referred to in paragraph (d) of subsection (1) of that section shall be appointed by the Minister from among persons who at the appointed day are employed in Singapore as accountants in the public service or in the service of an individual, a firm, a company or any other corporation and shall hold office from the dates of their appointments until the first annual general meeting of the Society when their places shall be filled by registered accountants elected by the members of the Society in accordance with the rules made under the provisions of this Ordinance:Provided that any such retiring member of the first Council shall be eligible for re-election if he is registered as a registered accountant in accordance with the provisions of this Ordinance.
(3)
At each subsequent annual general meeting all elected members of the Council shall retire and their places shall be filled by other public accountants and registered accountants respectively elected in accordance with the rules made under the provisions of this Ordinance:Provided always that retiring members of the Council shall be eligible for re-election if they are not otherwise disqualified from holding office in the Council.
Clause 12
Specific powers of first Council
(1)
Notwithstanding the provisions of section 8 of this Ordinance and without prejudice to the provisions of sections 17 and 18 of this Ordinance, the first Council of the Society constituted under the provisions of sections 9 and 11 of this Ordinance shall have power to make rules to provide for any of the matters mentioned in paragraphs (b), (d), (e), (h), (i) and (k) of subsection (1) of section 8 of this Ordinance.
(2)
All such rules shall be published in the Gazette and shall be presented to the Assembly as soon as may be after publication and shall not come into force unless and until approved by a resolution of the Assembly. The Assembly in approving such rules may make such additions or amendments thereto as the Assembly may deem fit.
(3)
All such rules as approved shall remain in force unless and until altered, amended or revoked at any general meeting of the Society.
Clause 13
Failure of members to elect
If the members of the Society fail at any time to make the necessary elections in accordance with the provisions of paragraphs (c) and (d) of section 9 of this Ordinance the Minister may appoint such persons from among the members of the Society who are public accountants or registered accountants, as the case may be, to hold office in the Council.
Clause 14
When members of the Council to vacate office
A member of the Council shall vacate his office if —
(a)
he ceases to be qualified to hold office in or to be elected or appointed to the Council;
(b)
he resigns his seat on the Council;
(c)
he is absent from three consecutive meetings of the Council without its consent;
(d)
he becomes bankrupt or insolvent or enters into a composition with any creditor or takes or attempts to take the benefit of the provisions of any written law to liquidate his assets or affairs;
(e)
he becomes of unsound mind; or
(f)
his subscription to the Society has been overdue for six months.
Clause 15
Casual vacancies
Any casual vacancy arising among the elected members of the Council may be filled by the Council by the election of a public accountant or a registered accountant, as the case may be, and any such new member shall hold office for so long as the member in whose place he is appointed would have held office.
Clause 16
Council may act notwithstanding vacancies
The Council may act notwithstanding any vacancy in its membership provided that not less than seven members thereof continue in office.
Clause 17
General powers of the Council
The management and control of the Society and of its funds shall be vested in the Council and all such powers, acts or things as may be exercised or done by the Society which are not by this Ordinance expressly directed or required to be exercised or done by the Society in general meeting may, subject to the provisions of this Ordinance or any rules made thereunder or any resolution passed from time to time by the Society in general meeting be exercised or done by the Council:Provided that no such resolution of the Society shall invalidate the exercise of any power or the doing of any act or thing by the Council previously which would have been valid if such resolution had not been passed.
Clause 18
Specific powers of the Council
(1)
Without prejudice to the general powers conferred by section 17 of this Ordinance and subject to the rules of the Society the Council shall have power —
(a)
from time to time to make by-laws to provide for all matters not expressly reserved for the Society in general meeting whether the same be expressed amongst its powers or not including the control of branches and the powers exercisable by them;
(b)
to prescribe the conditions for applicants for admission as members of the Society and for changes in the classification of members, either generally or in any particular case;
(c)
to found prizes for students and to lay down the conditions for their award as it deems fit;
(d)
at its discretion to appoint such officers, clerks, agents and servants for permanent, temporary or special services as it may from time to time deem fit and to determine their duties and terms of service;
(e)
to appoint from time to time the bankers and legal advisers of the Society;
(f)
to purchase, rent or otherwise acquire and furnish suitable premises for the use of the Society;
(g)
to take cognisance of anything affecting the Society or the professional conduct of its members and to bring before any general meeting of the Society any matter which it considers material to the Society or to the interests of the profession and make any recommendations and take such action as it deems fit in relation thereto;
(h)
with a view to extending the benefits of the Society, to communicate from time to time with other similar bodies and with members of the profession in other places for the purpose of obtaining and communicating information on all matters likely to prove beneficial or interesting to members and to negotiate and arrange with such bodies for the reciprocal recognition of the status of the members of the Society;
(i)
to institute, conduct, defend, compound or abandon any legal proceedings by and against the Society or its officers or otherwise concerning the affairs of the Society and to compound and allow time for payment or satisfaction of any debts due or of any claims or demands made by or against the Society;
(j)
to refer any claims or demands by or against the Society to arbitration and to observe and perform every award made as a result of such arbitration;
(k)
to make and give receipts, releases and other discharges for moneys payable to and for claims and demands of the Society;
(l)
to invest and deal with any moneys of the Society from time to time in securities authorised for the investment of trust funds by any written law for the time being in force;
(m)
from time to time to borrow or raise money by bank overdraft or otherwise by the issue of debentures or any other securities founded or based upon all or any of the property and rights of the Society or without any such security and upon such terms as to priority or otherwise as the Council shall deem fit;
(n)
from time to time as it deems fit to establish branches of the Society;
(o)
from time to time in its absolute discretion to delegate any of its powers, authorities and discretion to any branch of the Society on such conditions and for such period as it deems fit;
(p)
to appoint Committees of the Society for such purposes and with such powers as may be prescribed; and
(q)
to exercise all such powers, privileges and discretions as are not by this Ordinance expressly and exclusively required to be exercised by the members of the Society in general meeting.
(2)
A copy of all by-laws made by the Council under the provisions of this section shall be submitted to the Minister and shall be published in the Gazette.
Clause 19
Power of the Council to accept gifts
(1)
The Council may on behalf of the Society accept by way of grant, gift, testamentary disposition or otherwise, property or moneys in aid of the finances of the Society on such conditions as it may determine.
(2)
Registers shall be kept of all donations to the Society including the names of donors and any special conditions on which any donation may have been given.
(3)
All property, moneys or funds donated to the Society for any specific purposes shall be applied and administered in accordance with the purposes for which they may have been donated and shall be separately accounted for.
Clause 20
Meetings of the Council
(1)
The Council shall meet at such time and place and as often as may be necessary.
(2)
Seven members personally present at any meeting of the Council shall constitute a quorum for the transaction of any business.
(3)
A decision of the majority of the members of the Council present and voting at any meeting of the Council shall be deemed to be a decision of the Council.
(4)
The Chairman or the person lawfully acting as Chairman at any meeting of the Council shall have an original as well as a casting vote.
(5)
Subject to any rules of the Society, the Council may regulate its own procedure and in particular the holding of meetings, the notice to be given of such meetings, the proceedings thereat, the keeping of minutes and the custody, production and inspection of such minutes.
Clause 21
Expenses of members
No fees shall be paid to any member of the Council but a member may be reimbursed from the funds of the Society for out-of-pocket and travelling expenses incurred by him in relation to the affairs of the Society.
Clause 22
Appointment and functions of the Registrar
(1)
The Council shall appoint a Registrar and such other officers as may be necessary and shall pay to any such person appointed such salary or remuneration as the Council deems fit.
(3)
The Registrar shall have and may exercise and discharge the powers, authorities, duties and functions conferred or imposed on him by this Ordinance or any rules or by-laws made thereunder.
Clause 23
Register of Accountants
(1)
The Council shall cause to be kept in the prescribed form a register of accountants who shall for the purposes of this Ordinance and subject to the rules of the Society be classified as —
(a)
public accountants;
(b)
registered accountants;
(c)
provisional members; and
(d)
licensed accountants.
(2)
The register shall be kept at the office of the Society and shall be made available for inspection by the public without charge at all reasonable hours.
(3)
The Council shall cause to be published in the Gazette a copy of the register at least once in every year.
Clause 24
Membership
(1)
No person shall be registered by the Council as a member of the Society if he is less than twenty-one years of age or if in the opinion of the Council he is not of good character or reputation or is engaged in any business or occupation inconsistent with the integrity of a member of the Society.
(2)
A body corporate shall not be eligible for registration as a member of the Society.
(3)
Subject to the provisions of subsection (1) of this section, every person on payment of the fee prescribed by the rules of the Society, shall be entitled to be registered as a member of the Society, if —
(a)
he has passed, in accordance with such rules, such examinations in accountancy and other matters (if any) as may be prescribed, and has complied with all the requirements relating to practical experience as may be provided for by such rules; or
(b)
he is a member in good standing of an association of accountants which is recognised in this behalf by the Society and satisfies the Council that he has had practical experience at least equal to that required under paragraph (a) of this subsection.
(4)
For the purposes of paragraph (a) of subsection (3) of this section a person shall be deemed to have passed the examinations referred to in that paragraph or any part of such examinations, as the case may be, if he has passed any examination or part of an examination (whether in Singapore or elsewhere) which is recognised by the Society as being equivalent to or higher than the examinations or part thereof first mentioned in this subsection.
(5)
Notwithstanding the provisions of subsection (1) of this section, every person, who on or before the appointed day has been authorised under section 134 of the Companies Ordinance (Cap. 174) to act as an auditor generally, shall be entitled to be registered forthwith as a public accountant.
Clause 25
Provisional membership
(1)
Subject to the provisions of subsection (1) of section 24 of this Ordinance, a person who has not obtained the necessary practical experience prescribed by the rules of the Society but who has passed in accordance with such rules such examinations in accountancy and other matters (if any) as may be prescribed, may on application to the Council be registered as a provisional member of the Society.
(2)
On being so registered such person shall have the same rights of membership as a registered member except that he shall not be entitled to vote at any meeting of the Society or to carry out any duty reserved to any member of the Society by any written law and (when referring to his membership) may only describe himself as a provisional member of the Society and shall not be entitled to describe himself as either a public accountant or a registered accountant.
Clause 26
Licensed Accountant
(1)
Subject to the provisions of subsection (1) of section 24 of this Ordinance, every person on payment of the fee prescribed by the rules of the Society shall be entitled to be registered as a member of the Society as a licensed accountant if he has been in public practice as an accountant or a tax consultant or an auditor of specific companies granted under section 134 of the Companies Ordinance (Cap. 174) on or before 17th April, 1962.
(2)
A licensed accountant who has been certified by the Council acting on a report by a Committee appointed under the provisions of paragraph (p) of subsection (1) of section 18 of this Ordinance as to his fitness to be registered as a public accountant or a registered accountant, shall be entitled to be registered as such.
Clause 27
Application for registration
(1)
Every application by any person to the Council to be registered as a member of the Society shall be in writing in the prescribed form for the time being approved by the Council and the statements made therein shall if so required by the Council be verified by a statutory declaration made by the applicant.
(2)
Every such application shall be accompanied by the fee prescribed by the rules of the Society which fee shall be returned to the applicant if the application is refused.
Clause 28
Fees payable by members
(1)
Every member shall pay to the Society on admission and thereafter annually or at such other intervals as the Society may decide such fees as may be prescribed by the rules of the Society.
(3)
The Council may remove from the appropriate register the name of any member who is in arrears for six months or more in the payment of any fees and on notice of such removal under the hand of the Registrar being delivered to that member or posted to his registered postal address, he shall cease to be a member of the Society.
(4)
Without prejudice to any other provision of this Ordinance, any member whose name is so removed from the register may at any time within twelve months from the date of the notice of such removal referred to in subsection (3) of this section pay to the Council all fees which are in arrears or which would have been in arrears if he had continued to be a member of the Society together with such penalty as may be fixed from time to time by the Council and shall thereupon be entitled to have his name restored to the register. On such restoration he shall be deemed to be re-admitted as a member of the Society.
Clause 29
Resignations from the Society
(1)
A member of the Society may at any time by writing under his hand delivered to the Registrar tender his resignation from the Society, and, unless the Council refuses to accept his resignation as provided for in subsection (2) of this section, his name shall be removed from the appropriate register and he shall cease to be a member of the Society.
(2)
The Council may refuse to accept the resignation of any member if —
(a)
it has reason to believe that such member has been guilty of conduct or that circumstances exist to justify the removal of his name from the register; or
(b)
it is aware that any matter concerning such member is before the Investigation Committee or the Disciplinary Committee of the Society for investigation or inquiry; or
(c)
such member is indebted to the Society.
Clause 30
Reinstatement of members
(1)
A member whose name has been removed from the register under the provisions of section 29 of this Ordinance may apply at any time for reinstatement of his name in the register and the name of such member may be reinstated in the register upon such terms and conditions as the Council may deem necessary to impose upon him and upon his giving such information and explanation as the Council may require, but the Council shall not be compelled and may refuse to reinstate the name of such member in the register and may refuse to assign any reason therefor.
(2)
Any such member who is dissatisfied with the decision of the Council may within one month from the notification by the Council of such decision to him appeal to the High Court.
(3)
Subject to the provisions of subsection (2) of this section, the procedure governing such appeals to the High Court shall be the same as for appeals to the High Court from decisions of District Courts in civil matters.
Clause 36
Holding out as provisional member or registered accountant
After the appointed day no person unless he is registered under the provisions of this Ordinance —
(a)
shall hold himself out to be a provisional member or a registered accountant or a licensed accountant; or
(b)
shall adopt, use or exhibit the terms “provisional member of the Singapore Society of Accountants” or “registered accountant of the Singapore Society of Accountants” or “licensed accountant of the Singapore Society of Accountants”; or
(c)
shall adopt, use or exhibit the term “accountant” or any other similar term or name in such circumstances as to indicate or to be capable of being understood as indicating or to be likely to lead persons to infer that he is a provisional member or a registered accountant or a licensed accountant.
Clause 37
Holding out as public accountant or auditor
After the appointed day a person who is not registered as a public accountant under this Ordinance —
(a)
shall not practise as a public accountant, auditor or tax consultant; or
(b)
shall not hold himself out to be a public accountant or an auditor or a tax consultant; or
(c)
shall not adopt, use or exhibit the terms “public accountant”, “auditor” or “tax consultant”; or
(d)
shall not adopt, use or exhibit the term “accountant” or any other similar term or name in such circumstances as to indicate or to be capable of being understood as indicating or to be likely to lead persons to infer that he is a public accountant or that he is qualified by any written law to practise the profession of or is in practice as a public accountant:Provided that nothing in this section shall operate to prevent an advocate and solicitor of the Supreme Court from carrying on the work of a tax consultant.Provided further that a person who is registered as a licensed accountant shall not be debarred from carrying on any practice in which he was professionally engaged immediately prior to the coming into operation of this Ordinance.
Clause 38
Accountancy appointments not to be held except by registered public accountants
(1)
After the appointed day, notwithstanding anything contained in any written law but subject to the provisions of section 37 of this Ordinance, no person shall hold any appointment under the provisions of any written law as an accountant or auditor, whether such appointment is honorary or not, unless he is registered under this Ordinance otherwise than as a provisional member.
(2)
Subject to any provision to the contrary in any written law, a firm of which all the members are registered as public accountants under this Ordinance may be appointed as an accountant or auditor under the provisions of any written law.
(3)
No certificate or other document required by any written law to be signed or certified by an accountant shall, after the coming into operation of this Ordinance, be valid unless signed or certified by a public accountant registered under the provisions of this Ordinance or any other accountant who is approved by the Council.
Clause 39
No remuneration recoverable in respect of certain appointments except by public accountants
No person shall be entitled to recover any expenses or remuneration for or in respect of any of the appointments set out in section 38 of this Ordinance and made after the appointed day unless such person has been registered as a public accountant or a licensed accountant under this Ordinance.
Clause 40
Saving
The provisions of sections 38 and 39 of this Ordinance shall not apply to the Director of Audit or to any public officer authorised by him or to any public officer or any officer of any statutory authority authorised by the Minister in the exercise of their powers or in the performance of their official duties.
Clause 41
Penalty for certain offences
Any person contravening the provisions of section 36, 37, 38 or 39 of this Ordinance shall be guilty of an offence and shall be liable on conviction to a fine not exceeding one thousand dollars or to imprisonment for a term not exceeding one year and on a second or subsequent conviction to a fine not exceeding two thousand dollars or to imprisonment for a term not exceeding two years for every such offence.
Clause 42
Acts by body corporate or firm implying accountancy qualifications
(1)
Any act done by a body corporate or by any director, officer or servant thereof of such a nature or in such a manner as to be calculated to imply that the body corporate is a public accountant shall be an offence under this Ordinance and such body corporate shall be liable on conviction to a fine not exceeding one thousand dollars and where such act is done by a director, officer or servant of such body corporate such director, officer or servant thereof shall also be liable on conviction to a fine not exceeding five hundred dollars.
(2)
Where any firm does any act which in the case of a person would be an offence under any provision of this Ordinance, every member of such firm shall be deemed to have committed such offence unless he proves that he was unaware of the commission of such act.
Clause 43
Fraudulent practices in relation to registration
Any person who —
(a)
procures or attempts to procure registration or a certificate of registration under this Ordinance by knowingly making or producing or causing to be made any false or fraudulent declaration, certificate, application or representation, whether in writing or otherwise; or
(b)
wilfully makes or causes to be made any falsification in the register of the Society; or
(c)
forges, alters or counterfeits any certificate of registration issued under this Ordinance; or
(d)
uses any forged, altered or counterfeited certificate of registration under this Ordinance knowing the same to have been forged, altered or counterfeited; or
(e)
personates a member of the Society or buys, sells or fraudulently obtains a certificate of registration issued under this Ordinance,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding two hundred dollars or to imprisonment for a term not exceeding six months.
Clause 44
General penalty
Any person who commits an offence against the provisions of this Ordinance or any rules or by-laws made thereunder for which no penalty has been expressly provided shall be liable on conviction to a fine not exceeding two hundred dollars.
Clause 45
Recovery of moneys by Council
In addition to any other method of recovery and to any other right, remedy or power vested in the Council, any sum of money whatsoever payable under this Ordinance or any rules or by-laws made thereunder may be recoverable by the Council as a debt in any court of competent jurisdiction.
Clause 46
Court of trial
Notwithstanding anything contained in the Criminal Procedure Code (Cap. 132) a District Court shall have power to try any offence punishable under this Ordinance and to award the full penalties prescribed therefor.
Clause 47
Service of notice by post
(2)
A certificate in writing signed by the Registrar or a member of the Council that the notice was properly addressed and posted and setting out the date of such posting shall be prima facie evidence of service thereof.
Clause 48
Office of the Society
(1)
The Society shall at all times keep and maintain an office and the address of such office and any change thereof shall be published by the Council in the Gazette.
(2)
All writs, plaints, notices, pleadings, orders, summonses, warrants or other written communications required or authorised or ordered to be served on or delivered or sent to the Society or the Council shall be deemed to be duly served, delivered or sent if left at the office of the Society.
Clause 49
Exemption from estate duty
No estate duty shall be payable in respect of any amount of any bequest to the Society and the value of the property passing on the death of a deceased donor shall be deemed not to include the amount of such bequest for the purpose of fixing the rate of estate duty.
Clause 50
Gifts to the Society exempt from income tax
The Society shall be deemed to be an institution of a public character approved by the Minister for the purposes of the provisions of paragraph (c) of subsection (2) of section 37 of the Income Tax Ordinance (Cap. 166).
Common questions
- What is Singapore Society of Accountants Ordinance?
- Singapore Society of Accountants Ordinance is Singapore Bill, cited as Bill 192 1963, currently marked in force and first recorded in 1963.
- Is Singapore Society of Accountants Ordinance still in force?
- Yes — Singapore Society of Accountants Ordinance is currently in force.
- When did Singapore Society of Accountants Ordinance take effect?
- Singapore Society of Accountants Ordinance was first recorded in 1963.
- How many clauses does Singapore Society of Accountants Ordinance have?
- Singapore Society of Accountants Ordinance contains 50 clauses.
- Where can I read the official version of Singapore Society of Accountants Ordinance?
- The official text of Singapore Society of Accountants Ordinance is published at sso.agc.gov.sg.