Accountants (Public Accountants) (Amendment) Rules 2023

Status:

Published in Subsidiary Legislation Supplement
on 30 Mar 2023

No. S 146

Accountants Act 2004

Accountants
(Public Accountants)
(Amendment) Rules 2023

In exercise of the powers conferred by section 64 of the Accountants Act 2004, the Accounting and Corporate Regulatory Authority, with the approval of the Minister for Finance, makes the following Rules:

Citation and commencement

1.—(1) These Rules are the Accountants (Public Accountants) (Amendment) Rules 2023 and, except for rule 3, come into operation on 1 April 2023.

(2) Rule 3 is deemed to have come into operation on 31 December 2021.

Amendment of Second Schedule

2. In the Accountants (Public Accountants) Rules (R 1), in the Second Schedule —

(a)	in paragraphs 2(a)(xi), 2A(a) and 6A(2)(a), delete “developed by the Singapore Accountancy Commission”; and
(b)	in paragraph 7(1)(b), replace “section 26 of the Singapore Accountancy Commission Act 2013” with “section 35D of the Accounting and Corporate Regulatory Authority Act 2004”.

Miscellaneous amendments

3. In the Accountants (Public Accountants) Rules —

(a)

in the Second Schedule, in paragraph 7(1)(b), replace “(Cap. 294B)” with “2013”;

(b)

in the following provisions, replace “(Cap. 2)” with “2004”:

Fourth Schedule, paragraph SG010.2

Fourth Schedule, GLOSSARY, definitions of “Accounting entity”, “Public accountant” and “Public accountancy services”;

(c)

in the Fourth Schedule, in the GLOSSARY, in the definition of “Financial Institution” —

(i)	in paragraph (a), replace “(Cap. 19)” with “1970”;
(ii)	in paragraph (b)(i), replace “(Cap. 186)” with “1970”;
(iii)	in paragraph (b)(ii), after “Banking Act”, insert “1970”;
(iv)	in paragraph (c), replace “(Cap. 31A)” with “2004”;
(v)	in paragraph (c), replace “(Cap. 289)” with “2001”;
(vi)	in paragraph (d), delete “(Act 27 of 2016)”;
(vii)	in paragraph (e), replace “(Cap. 108)” with “1967”;
(viii)	in paragraph (f), replace “(Cap. 110)” with “2001”;
(ix)	in paragraph (g), delete “(Act 13 of 2013)”;
(x)	in paragraph (h), replace “section 1A of the Insurance Act (Cap. 142)” with “section 2 of the Insurance Act 1966”;
(xi)	in paragraphs (i) and (j), replace “section 1A of the Insurance Act” with “section 2 of the Insurance Act 1966”;
(xii)	in paragraph (k), delete “Cap. 142,”;
(xiii)	in paragraph (l), delete “(Act 2 of 2019)”;
(xiv)	in paragraphs (p), (q)(i), (ii), (iii), (iv) and (v), (r), (s), (t), (u) and (v), after “Securities and Futures Act”, insert “2001”;
(xv)	in paragraph (w), delete “Cap. 289,”; and
(xvi)	in paragraph (x), replace “(Cap. 336)” with “2005”;

(d)

in the GLOSSARY, in the definitions of “Large charity” and “Large institution of a public character”, delete “Cap. 37,”; and

(e)

in the GLOSSARY, in the definition of “Public company”, replace “(Cap. 50)” with “1967”.

[G.N. Nos. S 615/2007; S 251/2009; S 383/2010; S 211/2012; S 395/2013; S 25/2015; S 51/2015; S 840/2015; S 443/2016; S 118/2017; S 332/2017; S 680/2017; S 789/2018; S 901/2018; S 62/2020; S 172/2020; S 696/2020; S 130/2021; S 399/2021; S 911/2021; S 952/2022; S 953/2022]

Made on 24 March 2023.

ONG CHONG TEE

Chairperson,
Accounting and Corporate Regulatory Authority,
Singapore.

[F055.001.0019 V1; AG/LEGIS/SL/2/2020/2 Vol. 5]

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