Chartered Accountants Designation (Private) Act 67 of 1993
REPUBLIC OF SOUTH AFRICA
GOVERNMENT GAZETTE
STAATSKOERANT
VAN DIE REPUBLIEK VAN SUID-AFRIKA
Registered at the Post Office as a Newspaper As.'n Nuusblad by die Poskantoor Geregistreer
VoL. 336 . CAPE TOWN.' 25 JUNE 1993
KAAPSTAD, 25 JUNIE 1993 · No. 14888
' . .
STATE PRESIDENT'S OFFICE KANTOOR VAN DIE STAATSPRESIDENT
No. 1107. . ;: 25 June 1993 .No. 1107. 25 Junie 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.
Hierby word bekend gemaak dat die Staatspresident sy goedkeuring geheg het aan die onderstaande Wet wat hierby ter algemene inligting gepubliseer word:-
No. 67 van 1993: Private Wet· op die Benaming van · . ·.. Geoktrooieerde Rekenmeesters, 1993.
Please note that most Acts are published in English and another South African official language. Currently we only have capacity to publish the English versions. This means that this document will only contain even numbered pages as the other language is printed on uneven numbered pages.
,,·
2 No. 14888 GOVERNMENT GAZETTE, 25 JUNE 1993
Act No. 67,1993 CHARTERED ACCOUNTANTS DESIGNATION (PRIVATE) ACT, 1993
PRIVATE ACT To permit, regulate and restrict the use of certain designations relating to chartered accountants; an,d to provide for incide~tal 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 19,71), provides for the use of certain designations by members of specified associations of chartered account- ants. 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 r.evision requires .the deletion of. obsolete provisions, the ,, redrafting or amendment of inadequate or inappropriate provisions, arid 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 ENACTEJ:? by the State President and the Parliament . · of the Republic of South Africa, as follows:- · · ,- ..
Use of designation "Chartered Accountant" and related designations I . • -. - ' .
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 5 of Chartered Accountants or The Natal SoCiety of Chaitered Accountants oi: 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)", 10 "Geoktrooieerde . Rekenmeester .. (Suid-Afrika)", "Chartered. Accountant
. (S.A. )" or _"Geoktrooie'erde Rekep.meester (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 ccirporation'or other body, firm or partnership which , engages in public practice _as accountants and auditors and of. which every )5 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.
. J
4 No. 14888 GOVERNMENT GAZETTE, 25 JUNE 1993
Act No. 67, 1993 CHARTERED ACCOUNT ANTS DESIGNATION (PRIVATE) ACf, 1993
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 ~se by virtue of his membership of that body, provided .the country where ~he qualification was obtained is clearly indicated in or after the designation or initials. 5
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 10 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, 15 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 l (1), either 20 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 ~rpartnership 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. . . . , 25
. (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 exc~eding 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, 30 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 Ad shall be ~ailed the· Chartered Accountants Designation (Private) Ac.t,199~. ,·,
. ' '·-'
,.,: ''
. ' '-'·'
·: } . . ;:
. '
35