PRESIDENT'S OFFICE
No. 1055.
21 July 1995
NO. 23 OF 1995: PUBLIC ACCOUNTANTS' AND AUDITORS' AMENDMENT ACT, 1995.
It is hereby notified that the President has assented to the following Act
which is hereby published for general information:-
GENERAL EXPLANATORY NOTE:
** ** Words between two asterisks indicate omissions from existing
enactments.
<< >> Words between two pointed brackets indicate insertions in
existing enactments.
ACT
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.
(Afrikaans text signed by the President.)
(Assented to 10 July 1995.)
BE IT ENACTED by the Parliament of the Republic of South Africa, as follows:-
Amendment of section 4 of Act 80 of 1991
1. 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;".
Amendment of section 15 of Act 80 of 1991
2. Section 15 of the principal Act is hereby amended-
(a) by the insertion in subsection (2) after paragraph (c) of the
following paragraph:
"<<(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.>>".
Amendment of section 20 of Act 80 of 1991, as amended by section 2 of Act 70
of 1993
3. 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.>>".
Repeal of laws, extension of application of Act 80 of 1991, and saving
4. (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.
Transfer of assets, liabilities, rights and obligations of the Transkei
Public Accountants' and Auditors' Board
5. 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.
Short title and commencement
6. 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.
SCHEDULE
LAWS REPEALED By SECTION 4(1)
NUMBER AND SHORT TITLE EXTENT OF LAWS AREA OF NATIONAL TERRITORY IN
YEAR OF LAW REPEALED RESPECT OF WHICH LAW IS
REPEALED
(a)Act No. 51 Public Accountants' The whole The territories of the former
of 1951 and Auditors' Act, Republics of Bophuthatswana,
1951 Venda and Ciskei, and the
territories of the former self-
governing territories of
Lebowa, Gazankulu, Qwaqwa,
KwaZulu, KwaNdebele and
KaNgwane
Act No. 47 Public Accountants' The whole
of 1956 and Auditors'
Amendment Act, 1956
Act No. 64 Public Accountants' The whole
of 1957 and Auditors'
Amendment Act, 1957
Act No. 30 Public Accountants' The whole
of 1962 and Auditors'
Amendment Act, 1962
Act No. 68 Public Accountants' The whole
of 1965 and Auditors'
Amendment Act, 1965
Act No. 66 Transvaal and Natal The whole
of 1968 Societies of Char-
tered Accountants
Act, 1968
NUMBER AND SHORT TITLE EXTENT OF LAWS AREA OF NATIONAL TERRITORY IN
YEAR OF LAW REPEALED RESPECT OF WHICH LAW IS
REPEALED
Act No. 80 General Law Sections 15 and 16
of 1971 Amendment Act, 1971
(b)Act No. 61 Companies Act, Section The territories of the former
of 1973 1973 275(1)(e) 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 Companies Act, Sections The territory of the former
of 1973 1973 (Ciskei) 275(1)(e), Republic of Ciskei
(Ciskei) (h) and (i),
and 282
(d)Act No. 53 Public Accountants' The whole The territories of the former
of 1975 and Auditors' Republics of Bophuthatswana,
Amendment Act, Venda and Ciskei, and the
1975 territories of the former self-
governing territories of
Lebowa, Gazankulu, Qwaqwa,
KwaZulu, KwaNdebele and
KaNgwane
Act No. 91 Public Accountants' The whole
of 1979 and Auditors'
Amendment Act, 1979
NUMBER AND SHORT TITLE EXTENT OF LAWS AREA OF NATIONAL TERRITORY IN
YEAR OF LAW REPEALED RESPECT OF WHICH LAW IS
REPEALED
(e)Act No. 29 Public Accountants' The whole The territory of the former
of 1980 and Auditors' Act, Republic of Transkei
(Transkei) 1980 (Transkei)
(f)Act No. 22 Licences Act, 1982 Schedule 1, The territory of the former
of 1982 (Ciskei) item 1A Republic of Ciskei
(Ciskei)
(g)Act No. 42 Public Accountants' The whole The territory of the former
of 1982 and Auditors' self-governing territory of
Amendment Act, 1982 KaNgwane
Act No. 12 Public Accountants' The whole
of 1983 and Auditors'
Amendment Act, 1983
(h)Act No. 15 General Law Section 24 The territory of the former
of 1983 Amendment Act, Republic of Transkei
(Transkei) 1983 (Transkei)
(i)Act No. 48 Public Accountants' The whole The territory of the former
of 1984 and Auditors' self-governing territory of
Amendment Act, 1984 KaNgwane
(j)Act No. 6 Companies Amend- Sections 8, The territory of the former
of 1986 ment Act, 1986 9 and 10 Republic of Ciskei
(Ciskei) (Ciskei)