fees collected dropped by nearly $283,000, the decrease being due to a drop in the amount of fees paid during the year in respect of increases of capital.
31. The comparative figures for 1956/57 and 1957/58 are as follows:
Companies Registration fees ...
Companies Miscellaneous fees
Licences for Local or Branch Registers Money-Lenders Licences
1956/57 $855,666.32
1957/58- $781,931.50
444.25
587.68
572.52
4,000.00
4,000.00
$860,254.00
$786,948.27
Authorized Auditors Board
32. The Authorized Auditors Board constituted under Section 131A of the Companies Ordinance is composed of ten members, namely, the Registrar of Companies (Chairman), the Accountant General and the Commissioner of Inland Revenue as ex officio members, a Legal Adviser, and six other members appointed by the Governor, of whom five are practising accountants.
Powers and Duties
33. The Board inquiries into and adjudicates upon all applications for admission to the Authorized List of Auditors kept by the Registrar of Companies under Section 131(3)(a). The Board may also sit as a disciplinary tribunal, having power to issue a reprimand or order the removal of the name of an auditor from the List.
Admissions
34. During the year the Board inquired into and approved five applications for admission to Part I, and three for admission to Part II of the Authorized List.
Examination for Admission to Part II of the List
35. The Board conducts examinations for admission to Part II of the List at such times and places as it sees fit. The examination is divided into two parts, an oral and a written examination, and every candidate must satisfy the Board in the oral examination before he is eligible to sit for the written examination. At the last examination held in March, 1958, when there were three candidates, two passed the oral, of whom only one passed the written paper.
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