Published by Authority

NO. 25]Friday, September 25 [1987

The following Act was passed by Parliament on 31st August 1987 and assented to by the President on 14th September 1987:—
Accountants Act 1987

(No. 26 of 1987)

I assent.

14th September 1987.
Date of Commencement: 11th February 1989
An Act to provide for the establishment of the Public Accountants Board and for purposes connected therewith and to repeal and re-enact with amendments the Accountants Act (Chapter 2 of the 1985 Revised Edition).
Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows:
Short title and commencement
1.  This Act may be cited as the Accountants Act 1987 and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.
2.  In this Act, unless the context otherwise requires —
“appointed day” means the date of commencement of this Act;
“Board” means the Public Accountants Board established under section 3;
“certified public accountant” means a person who is for the time being a member of the Institute;
“Chairman” means the Chairman of the Board;
“Council” means the Council of the Institute established under section 29;
“Disciplinary Committee” means the Disciplinary Committee appointed under the repealed Accountants Act (Cap. 2);
“Inquiry Committee” means an Inquiry Committee appointed by the Board under section 19(1);
“Institute” means the Institute of Certified Public Accountants of Singapore;
“Investigation Committee” means the Investigation Committee appointed under the repealed Accountants Act;
“lay person”, in relation to an Inquiry Committee, means an architect, banker, advocate and solicitor, company director, insurer, professional engineer, medical practitioner or a person who possesses such other qualifications as may be approved by the Board;
“public accountant” means a person who is registered or deemed to be registered in accordance with this Act as a public accountant;
“Registrar” means the Registrar of the Board appointed under section 11(1);
“repealed Accountants Act” means the Accountants Act in force immediately before the appointed day;
“Society” means the Singapore Society of Accountants established under the repealed Accountants Act.