1976 Ed.]
Accountant's Report Rules
[CAP. 159
8. In any practice year beginning on or after the date of the commencement of these rules-
(a) in the case of a solicitor who-
(i) becomes under an obligation to deliver his first accountant's report, or
(ii) having been exempt under rule 6 from delivering an accountant's report in the preceding practice year, becomes under an obligation to deliver an accountant's report,
the accounting period shall begin on the date upon which he first held or received client's money or, after such exemption, began again to hold or receive client's money, and may cover less than 12 months, and shall in all other respects comply with the requirements of section 8(2) of the Ordinance; and
(b) in the case of a solicitor retiring from practice who, having ceased to hold or receive client's money, is under an obligation to deliver his final accountant's report, the accounting period shall end on the date upon which he ceased to hold or to receive client's money, and may cover less than 12 months, and shall in all other respects comply with the requirements of section 8(2) of the Ordinance.
9. (1) In any practice year beginning on or after the date of the commencement of these rules, in the case of a solicitor who-
(a) was not exempt under rule 6 from delivering an accountant's report in the preceding practice year; and
(b) since the expiry of the accounting period covered by such accountant's report has become, or has ceased to be, a member of a firm of solicitors,
the accounting period may cover less than 12 months and shall in all other respects comply with the requirements of section 8(2) of the Ordinance.
(2) In the case of a solicitor who has 2 or more places of business-
(a) separate accounting periods, covered by separate accountant's reports, may be adopted in respect of each such place of business, provided that the accounting periods comply with the requirements of section 8(2) of the Ordinance and with these rules; and
(b) the accountant's report or accountants' reports delivered by him to the Committee in each practice year shall cover all client's money held or received by him.
10. Every notice to be given by the Committee under these rules to a solicitor shall be in writing under the hand of the Secretary and sent by registered post to the last address of the solicitor appearing
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[Subsidiary] Accounting periods. L.N. 20/70.
Different accounting periods. L.N. 20/70.
L.N. 211/76.
Notices to solicitors.
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