- Government
Gazette
14888
-
STATE
PRESIDENT'S
OFFICE
-
- No.
1107.
-
25
June
1993
-
- It
is
hereby
notified
that
the
State
President
has
assented
to
the following
Act
which
is
hereby
published
for
general
information:-
-
- NO.
67
OF
1993:
CHARTERED
ACCOUNTANTS
DESIGNATION
(PRIVATE)
ACT,
1993.
-
PRIVATE
ACT
-
- To
permit,
regulate
and
restrict
the
use
of
certain
designations
relating
to
chartered
accountants;
and
to
provide
for
incidental
matters.
-
- (English
text
signed
by
the
State
President)
(Assented
to
17
June
1993.)
-
Preamble
-
- WHEREAS
the
Chartered
Accountants
Designation
(Private)
Act,
1927
(Act No.
13
of
1927),
as
amended
by
the
Chartered
Accountants
Designation
Amendment
(Private)
Act,
1971
(Act
No.
97
of
1971),
provides
for
the
use
of certain
designations
by
members
of
specified
associations
of
chartered
accountants
only,
and
restricts
the
use
of
certain
designations
by
foreign
chartered
accountants;
-
- AND
WHEREAS
it
has
become
necessary
to
revise
the
provisions
of
the said
Act,
as
so
amended,
in
the
light
of
present-day
circumstances
and
requirements;
-
- AND
WHEREAS
a
revision
requires
the
deletion
of
obsolete
provisions,
the redrafting
or
amendment
of
inadequate
or
inappropriate
provisions,
and the
insertion
of
new
provisions
permitting,
regulating
and
restricting
the use
of
the
said
designations
by
companies,
close
corporations
or
other bodies;
-
- AND
WHEREAS
such
a
revision
may
best
be
effected
by
the
repeal
of
the said
Acts
and
the
adoption
of
a
new
measure
embodying
the
redrafted,
amended
and
new
provisions;
-
- AND
WHEREAS
it
is
expedient
to
provide
for
incidental
matters:
-
- BE
IT
THEREFORE
ENACTED
by
the
State
President
and
the
Parliament
of the
Republic
of
South
Africa,
as
follows:-
-
- Use
of
designation
"Chartered
Accountant"
and
related
designations
-
- 1.
(1)
Every
member
of
The
South
African
Institute
of
Chartered
Accountants
or
of
any
successor
in
title
to
that
Institute
and
every
member of
The
Cape
Society
of
Chartered
Accountants
or
The
Natal
Society
of Chartered
Accountants
or
The
Orange
Free
State
Society
of
Chartered
Accountants
or
The
Transvaal
Society
of
Chartered
Accountants,
or
of
any
-
- successor
in
title
to
any
of
the
aforementioned
Societies,
shall
be entitled
to
use
the
designation
"Chartered
Accountant",
"Geoktrooieerde
Rekenmeester",
"Chartered
Accountant
(South
Africa)",
"Geoktrooieerde
Rekenmeester
(Suid-Afrika)",
"Chartered
Accountant
(S.A.)"
or
"Geoktrooieerde
Rekenmeester
(S.A.)",
or
the
initials
"F.C.A.
(S.A.)",
"A.C.A.
(S.A.)",
"C.A.",
"G.R.",
"C.A.
(S.A.)"
or
"G.R.
(S.A.)".
-
- (2)
Any
company,
close
corporation
or
other
body,
firm
or
partnership
which engages
in
public
practice
as
accountants
and
auditors
and
of
which every
shareholder,
every
director,
every
member
or
every
partner,
as
the case
may
be,
is
a
member
of
the
Institute
or
of
one
of
the
Societies
referred
to
in
subsection
(1)
shall
be
entitled
to
use
the
designations
or initials
referred
to
in
that
subsection.
-
- Member
of
a
body
of
chartered
accountants
established
outside
the
Republic
-
- 2.
A
member
of
a
body
of
chartered
accountants
established
outside
the Republic
of
South
Africa
may
use
the
designation
or
initials
which
he
is entitled
to
use
by
virtue
of
his
membership
of
that
body,
provided
the country
where
the
qualification
was
obtained
is
clearly
indicated
in
or after
the
designation
or
initials.
-
- Prohibition
relating
to
name
or
business
style
of
company,
close
corporation
or
other
body
-
- 3.
No
person,
whether
or
not
he
is
entitled
to
use
any
designation
or initials
referred
to
in
section
1
(1)
or
2,
may
use,
or
permit
the
use
of, such
designation
or
initials
in
the
name
or
business
style
of
any
company, close
corporation
or
other
body,
firm
or
partnership
which
does
not
engage in
public
practice
as
accountants
and
auditors.
-
- Penalties
-
- 4.
(1)
Any
person
who
uses
any
designation
or
initials
referred
to
in section
1
(1),
either
alone
or
in
combination
with
any
other
words
or initials
or
any
name,
title
or
description,
shall
be
guilty
of
an
offence and
liable
on
conviction
to
a
fine
not
exceeding
R20
000
unless
he
proves that
he
is
a
member
of
the
Institute
or
one
of
the
Societies
referred
to
in that
section.
-
- (2)
Any
person
who
permits
a
company,
close
corporation
or
other
body, firm
or
partnership
to
use
any
designation
or
initials
referred
to
in section
1
(1),
either
alone
or
in
combination
with
any
other
words
or initials
or
any
name,
title
or
description,
when
any
shareholder,
director, member
or
partner
of
such
company,
close
corporation
or
other
body,
firm
or partnership
is
not
entitled
to
use
such
designation
or
initials,
shall
be guilty
of
an
offence
and
liable
on
conviction
to
a
fine
not
exceeding
R20
-
000.
-
- (3)
Any
person
who
contravenes
the
provisions
of
section
2
or
3
shall be
guilty
of
an
offence
and
liable
on
conviction
to
a
fine
not
exceeding
R20 000.
-
- Repeal
of
laws,
and
saving
-
- 5.
(1)
The
Chartered
Accountants
Designation
(Private)
Act,
1927
(Act No.
13
of
1927),
and
the
Chartered
Accountants
Designation
Amendment
(Private)
Act,
1971
(Act
No.
97
of
1971),
are
hereby
repealed.
-
- (2)
Nothing
in
this
Act
contained
shall
be
construed
as
prohibiting
any person
who,
immediately
prior
to
its
commencement,
lawfully
used
any designation
or
initials
referred
to
in
section
1
(1)
or
2,
from
so
using such
designation
or
initials.
-
- Short
title
-
- 6.
This
Act
shall
be
called
the
Chartered
Accountants
Designation
-
(Private)
Act,
1993.
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