Amendoncat of regula.
tion S.
Amendment
of regula-
tion 6.
(Cap. 32),
Suspension
of appoint- ment of approved accountant.
2
(b) where the name of such person has been removed from the authorized list kept in accordance with the provisions of section 131 of the Companies Ordinance; or
(c) at the request of such person.
3B. (1) Where he is satisfied that the work of any approved accountant is not satisfactory either for the purposes of these regulations or for the purposes of any claim for Commonwealth Preference rates of duty, the Director may suspend the appointment of such accountant:
Provided that, notwithstanding the suspension of his appointment, the Director may accept any information or document prepared and certified by such accountant if such information or document relates to work which such accountant had commenced before the suspension of his appointment.
(2) Every such suspension shall be for a period of three years from the day on which such appointment was Suspended.
(3) Where, under the provisions of paragraph (1), the appointment of approved accountant has been suspended, the Director shall forthwith send to such accountant by registered post a notice in writing of such suspension, specifying the date on which his appointment was suspended.
(4) Any person whose appointment to be an approved accountant has been suspended under the provisions of paragraph (1) may, within fourteen days of the day on which his appointment was suspended, appeal by way of petition to the Governor in Council against the decision of the Director to suspend his appointment.
(5) The decision of the Governor in Council upon any such appeal shall be final.".
5. Regulation 5 of the principal regulations is amended by the deletion from paragraph (2) thereof of the words "An Imperial" and the substitution therefor of the following-
6.
"A Commonwealth",
Regulation 6 of the principal regulations is amended by the deletion from sub-paragraph (c) of paragraph (1) thereof of the words "any Imperial" and the substitution therefor of the following-
"any Commonwealth".
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7. The principal regulations are amended by the deletion there- Amendment of princips! from, wherever they occur therein, of the words "an Imperial" and
regulations. the substitution therefor of the following—
"a Commonwealth".
Liu.
Clerk of Councils.
COUNCIL CHAMBER,
22nd March, 1960.
Explanatory Note.
(This Note is not part of the regulations, hat is intended to indicate their general purport),
These regulations make amendments to the principal regulations in two respects.
Firstly. The provisions contained in the proviso to paragraph (3) of regula- tion 3 of the principal regulations with respect to the suspension or revocation of the appointment of approved accountants are considered unsatisfactory in certain respects.
(a) The principal regulations in their present form provide that the appoint- ment of any person to be an approved accountant may be revoked by the Director after reference to the Authorized Auditors Board. It is considered preferable to provide that the Director may revoke such an appointment on certain specified grounds. The new regulation 3A contains the pecessary provisions.
(B) It is now thought that the power to suspend the appointment of any person to be an approved accountant should not, as it is at present, ba a power to suspend indefinitely, but that the suspension of such an appointment should be for a fixed period of three years. It is also considered that there should be an appeal to the Governor in Council against a decision of the Director to suspend such an appointment, The accessary provisions are contained in the new regulation 33. Secondly. The preferential rates of duty to which the principal regulations apply have, since the 1st of January, 1959, been known as Commonwealth Preference rates of duty. These regulations substitute a reference to Common- wealth Preference rates of duty for the existing references to Imperial Preference rates of duty.
(Secretariat CR1/3231/53)
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