1963-HKRS30-8-54_Part05 — Page 4

initial accounting periods.

Accounting periods.

these rules held or received client's money, has delivered an accountant's certificate covering an accounting period ending on the date upon which he ecased to hold or receive client's money: or

(e) bas at no time since the date of the commencement of these rules held a current practising certificate or held or received client's money.

7. The accounting period specified in an accountant'a certificats delivered during the practice year beginning on the date of the com- mencement of these rules shall begin on-

(a) the date to which the solicitor's books were last made up before the date of the commencement of these rules; or

(b) if the books were not made up during the practice year beginning on the date of the commencement of these rules, either the date of the commencement of these rules, or the day upon which the solicitor first began or began again 10 hold or receive client's money, whichever is the later,

and shall cover not less than six months, or, in the case of a soliciter retiring from practice who has ceased to hold or receive client's money after the day before the date of the commencement of these rules, the period up to the date upon which he so ceased.

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 account- ant's certificate, or

(i) having been exempt under rule 6 from delivering an accountant's certificate in the preceding practice year, becomes under an obligation to deliver an accountant's certificate, 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 twelve months, and shall in all other respects comply with the requirements of subsection (2) of section 8 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 certificate, the accounting period shall end on the date upon which he ceased to hoki

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or to receive client's money, and may cover less than twelve months, and shall in all other respects comply with the re- quirements of subsection (2) of section 8 of the Ordinance.

9. (I) In any practice year beginning on or after the date of Different the commencement of these rules, in the case of a solicitor who-

accounting periods.

(a) was not exempt under cule 6 from delivering an accountant's

certificate in the preceding practice year; and

(6) since the expiry of the accounting period covered by such accountant's certificate has become, or ceased to be, a member

of a firm of solicitors,

the accounting period may cover less than twelve months and shall in all other respects comply with the requirements of subsection (2) of section 8 of the Ordinance.

(2) In the case of a solicitor who has two or more places of business

(a) separate accounting periods, covered by separate accountant'a certificates, may be adopted in respect of each such place of business, provided that the accounting periods comply with the requirements of subsection (2) of section 8 of the Ordinance and with these rules; and

(8) the accountant's certificate or accountants' certificates delivered by him to the Registrar in each practice year sball cover all client's money hold or received by him.

solicitors.

10. Every notice to be given by the Committee under these rules Notices to 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 in the Roll of Solicitors, and, when so given and sent, shall be deemed to have been received by the solicitor within forty-eight hours of the time of posting.

11. Every notice to be given by the Committee under these rules Notices to to an accountant shall be in writing under the hand of the Secretary accountants, and sent by registered post to the address of the accountant shown on an accountant's certificate or the authorized list kept by virtue of para. graph (a) of subsection (3) of section 131 of the Companies Ordinance, (Cap. 32). and, where so given and sent, shall be deemed to have been received by the accountant within forty-eight hours of the time of posting.

12. The Committee shall have power to waive in writing any of Power of the provisions of these rules, other than those of paragraph (2) of rule 3, waiver. in any particular case.