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| DOCREF: 1995_023_000_19950721_16549_0361_1055 |
South
Africa
NATIONAL LEGISLATION TEXTS
NATIONAL LEGISLATION TEXTS
Public
Accountants' and Auditors' Amendment Act, No. 23 of 1995
| Version : As unamended with effect from ... [Date/s available on subscription copy - please contact us] |
.
EXPLANATION OF MARKS:
[Bold text in square brackets] is text marked by this Act for deletion from existing enactments[Underlined text in square brackets] is text marked by this Act for insertion into existing enactments
[Grey text in square brackets] is text containing LegalB’s references or comments
Grey text outside of square brackets is text that has to be verified
Two asterisks thus ** indicates text must only be read in the light of our commentary on this legislation
ACT
Long title
To amend the Public Accountants' and Auditors' Act, 1991, so as to substitute certain obsolete expressions; to further regulate the requirements to be registered as an accountant and auditor; and to extend the power of the Public Accountants' and Auditors' Board to disclose certain information; to provide for the repeal of certain laws; to provide for the application of the Public Accountants' and Auditors' Act, 1991, throughout the Republic; and to provide for matters connected therewith.
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[Act 1995_023_000 Long title unamended wef ... date/s available on subscrition copy]
1. Amendment of section 4 of Act 80 of 1991
Section 4 of the Public Accountants' and Auditors' Act, 1991 (hereinafter referred to as the principal Act), is hereby amended by the substitution for paragraph (b) of subsection (2) of the following paragraph:
[Act 1995_023_001 unamended wef ... date/s available on subscrition copy]
2. Amendment of section 15 of Act 80 of 1991
Section 15 of the principal Act is hereby amended-
[Act 1995_023_002 unamended wef ... date/s available on subscrition copy]
3. Amendment of section 20 of Act 80 of 1991, as amended by section 2 of Act 70 of 1993
Section 20 of the principal Act is hereby amended by the substitution for paragraph (c) of subsection (5) of the following paragraph:
[Act 1995_023_003 unamended wef ... date/s available on subscrition copy]
4. Repeal of laws, extension of application of Act 80 of 1991, and saving
(1) Subject to section 5, the laws mentioned in the second column of the Schedule, as in force immediately prior to the commencement of the Constitution in the various areas of the national territory of the Republic shown in the fourth column of the Schedule, are hereby repealed to the extent shown in the third column of the Schedule.
(2) The principal Act, as in force immediately prior to the commencement of this Act in the national territory of the Republic excluding the areas which comprised the former Republics of Transkei, Bophuthatswana, Venda and Ciskei and the areas which comprised the territories declared under section 26 of the Self-governing Territories Constitution Act, 1971 (Act No. 21 of 1971), to be self-governing territories, shall apply also in those areas.
(3) Anything done under a law repealed in terms of subsection (1) and which could have been done under a provision of the principal Act shall be deemed to have been done under the last-mentioned provision.
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[Act 1995_023_004 unamended wef ... date/s available on subscrition copy]
5. Transfer of assets, liabilities, rights and obligations of the Transkei Public Accountants' and Auditors' Board
All assets, liabilities, rights and obligations of the Public Accountants' and Auditors' Board established under section 2 of the Transkei Public Accountants' and Auditors' Act, 1980 (Act No. 30 of 1980), are hereby transferred to the Public Accountants' and Auditors' Board mentioned in section 2 of the principal Act.
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[Act 1995_023_005 unamended wef ... date/s available on subscrition copy]
6. Short title and commencement
This Act shall be called the Public Accountants' and Auditors' Amendment Act, 1995, and shall come into operation on a date fixed by the President by proclamation in the Gazette.
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[Act 1995_023_006 unamended wef ... date/s available on subscrition copy]
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[Act 1995_023_004(1) Schedule unamended wef ... date/s available on subscrition copy]
Long title
To amend the Public Accountants' and Auditors' Act, 1991, so as to substitute certain obsolete expressions; to further regulate the requirements to be registered as an accountant and auditor; and to extend the power of the Public Accountants' and Auditors' Board to disclose certain information; to provide for the repeal of certain laws; to provide for the application of the Public Accountants' and Auditors' Act, 1991, throughout the Republic; and to provide for matters connected therewith.
_______
[Act 1995_023_000 Long title unamended wef ... date/s available on subscrition copy]
1. Amendment of section 4 of Act 80 of 1991
Section 4 of the Public Accountants' and Auditors' Act, 1991 (hereinafter referred to as the principal Act), is hereby amended by the substitution for paragraph (b) of subsection (2) of the following paragraph:
"(b)
if he has at any time been convicted (whether in the Republic or
elsewhere) of theft, fraud, forgery or uttering a forged document,
perjury, an offence under the [
Prevention of Corruption
Act, 1958 (Act
No. 6 of 1958) ] [Corruption
Act,
1992 (Act No. 94 of 1992) ] ,
or
any offence involving dishonesty, and has been sentenced therefor to
imprisonment without the option of a fine or to a fine exceeding
R300;".
_______[Act 1995_023_001 unamended wef ... date/s available on subscrition copy]
2. Amendment of section 15 of Act 80 of 1991
Section 15 of the principal Act is hereby amended-
(a)
by the insertion in subsection (2) after paragraph (c) of the
following paragraph:
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" [ (d) is a fit
and proper person to be registered as an accountant
and auditor, ] "; and
(b) by the insertion after subsection (10) of the following subsection:
" [ (10A) Any
person who is registered in terms of this section as an
accountant and auditor may affix the abbreviation 'RAA' after his or
her name. ] ".
[Act 1995_023_002 unamended wef ... date/s available on subscrition copy]
3. Amendment of section 20 of Act 80 of 1991, as amended by section 2 of Act 70 of 1993
Section 20 of the principal Act is hereby amended by the substitution for paragraph (c) of subsection (5) of the following paragraph:
"(c)
The board may disclose any information supplied to it in terms of
paragraph (b) to any attorney-general or the Registrar of [
Deposit-taking Institutions] [ Banks]
or any officer in the public
service or any member or creditor of the undertaking concerned or any
juristic person of whom the undertaking is a member or who has control
over the undertaking or who has the power to take disciplinary steps
against the undertaking, or to the committee of any stock exchange on
which shares of the undertaking are listed, [ or, if the
board
believes it to be in the best interests of the public, to any other
person, institution or body. ]
".
_______[Act 1995_023_003 unamended wef ... date/s available on subscrition copy]
4. Repeal of laws, extension of application of Act 80 of 1991, and saving
(1) Subject to section 5, the laws mentioned in the second column of the Schedule, as in force immediately prior to the commencement of the Constitution in the various areas of the national territory of the Republic shown in the fourth column of the Schedule, are hereby repealed to the extent shown in the third column of the Schedule.
(2) The principal Act, as in force immediately prior to the commencement of this Act in the national territory of the Republic excluding the areas which comprised the former Republics of Transkei, Bophuthatswana, Venda and Ciskei and the areas which comprised the territories declared under section 26 of the Self-governing Territories Constitution Act, 1971 (Act No. 21 of 1971), to be self-governing territories, shall apply also in those areas.
(3) Anything done under a law repealed in terms of subsection (1) and which could have been done under a provision of the principal Act shall be deemed to have been done under the last-mentioned provision.
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[Act 1995_023_004 unamended wef ... date/s available on subscrition copy]
5. Transfer of assets, liabilities, rights and obligations of the Transkei Public Accountants' and Auditors' Board
All assets, liabilities, rights and obligations of the Public Accountants' and Auditors' Board established under section 2 of the Transkei Public Accountants' and Auditors' Act, 1980 (Act No. 30 of 1980), are hereby transferred to the Public Accountants' and Auditors' Board mentioned in section 2 of the principal Act.
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[Act 1995_023_005 unamended wef ... date/s available on subscrition copy]
6. Short title and commencement
This Act shall be called the Public Accountants' and Auditors' Amendment Act, 1995, and shall come into operation on a date fixed by the President by proclamation in the Gazette.
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[Act 1995_023_006 unamended wef ... date/s available on subscrition copy]
SCHEDULE. LAWS REPEALED BY SECTION 4(1)
| NUMBER AND YEAR OF LAW | SHORT TITLE | EXTENT OF LAWS REPEALED | AREA OF NATIONAL TERRITORY IN RESPECT OF WHICH LAW IS REPEALED |
| (a) Act No. 51 of 1951 | Public Accountants' and Auditors' Act, 1951 | The whole | The territories of the former Republics of Bophuthatswana, Venda and Ciskei, and the territories of the former self-governing territories of Lebowa, Gazankulu, Qwaqwa, KwaZulu, KwaNdebele and KaNgwane |
| Act No. 47 of 1956 | Public Accountants' and Auditors' Amendment Act, 1956 | The whole | |
| Act No. 64 of 1957 | Public Accountants' and Auditors' Amendment Act, 1957 | The whole | |
| Act No. 30 of 1962 | Public Accountants' and Auditors' Amendment Act, 1962 | The whole | |
| Act No. 68 of 1965 | Public Accountants' and Auditors' Amendment Act, 1965 | The whole | |
| Act No. 66 of 1968 | Transvaal and Natal Societies of Chartered Accountants Act, 1968 | The whole | |
| Act No. 80 of 1971 | General Law Amendment Act, 1971 | Sections 15 and 16 | |
| (b) Act No. 61 of 1973 | Companies Act, 1973 | Section 275(1)(e) | The territories of the former Republics of Transkei, Bophuthatswana and Venda, and the territories of the former self-governing territories of Lebowa, Gazankulu, Qwaqwa, KwaZulu, KwaNdebele and KaNgwane |
| (c) Act No. 61 of 1973 (Ciskei) | Companies Act, 1973 (Ciskei) | Sections 275(1)(e), (h) and (i), and 282 | The territory of the former Republic of Ciskei |
| (d) Act No. 53 of 1975 | Public Accountants' and Auditors' Amendment Act, 1975 | The whole | The territories of the former Republics of Bophuthatswana, Venda and Ciskei, and the territories of the former self-governing territories of Lebowa, Gazankulu, Qwaqwa, KwaZulu, KwaNdebele and KaNgwane |
| Act No. 91 of 1979 | Public Accountants' and Auditors' Amendment Act, 1979 | The whole | |
| (e)Act No. 29 of 1980 (Transkei) | Public Accountants' and Auditors' Act, 1980 (Transkei) | The whole | The territory of the former Republic of Transkei |
| (f)Act No. 22 of 1982 (Ciskei) | Licences Act, 1982 (Ciskei) | Schedule 1, item 1A | The territory of the former Republic of Ciskei |
| (g)Act No. 42 of 1982 | Public Accountants' and Auditors' Amendment Act, 1982 | The whole | The territory of the former self-governing territory of KaNgwane |
| Act No. 12 of 1983 | Public Accountants' and Auditors' Amendment Act, 1983 | The whole | |
| (h)Act No. 15 of 1983 (Transkei) | General Law Amendment Act, 1983 (Transkei) | Section 24 | The territory of the former Republic of Transkei |
| (i)Act No. 48 of 1984 | Public Accountants' and Auditors' Amendment Act, 1984 | The whole | The territory of the former self-governing territory of KaNgwane |
| (j)Act No. 6 of 1986 (Ciskei) | Companies Amendment Act, 1986 | Sections 8, 9 and 10 | The territory of the former Republic of Ciskei (Ciskei) |
[Act 1995_023_004(1) Schedule unamended wef ... date/s available on subscrition copy]