2003 Legislative Session: 4th Session, 37th Parliament
FIRST READING
The following electronic version is for informational
purposes only.
The printed version remains the official version.
HONOURABLE SHIRLEY BOND
MINISTER OF ADVANCED EDUCATION
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:
1 Section 1 of the Accountants (Chartered) Act, R.S.B.C. 1996, c. 3, is renumbered as section 1.1 and the following section is added:
1 In this Act:
"bylaw" means a bylaw made under this Act and includes an amendment or repeal of a bylaw;
"council" means the council referred to in section 4;
"inquiry" means an inquiry referred to in section 24 (1);
"institute" means the institute continued under section 1.1 (1);
"licence" means a licence issued under section 14.1 to provide accounting services to the public in British Columbia;
"licensed firm" means a firm licensed under section 14.1;
"member" means, unless the context indicates membership in another body, a member approved under section 1.1 (2).
2 Sections 4 to 7 are repealed and the following substituted:
4 (1) The council consists of not less than 9 persons appointed or elected as follows:
(a) persons appointed to the council under subsection (2);
(b) members of the institute elected to the council under the bylaws.
(2) The Lieutenant Governor in Council may appoint to the council up to 3 persons who are not members of the institute, the Certified General Accountants Association of British Columbia or the Certified Management Accountants Society of British Columbia and may set the term of their appointment.
(3) Elections referred to in subsection (1) (b) must be held at intervals not exceeding 24 months.
(4) The members eligible to be elected as referred to in subsection (1) (b) are members in good standing who are resident in British Columbia and are
(a) described in section 14 (a), or
(b) specified in the bylaws.
(5) Unless the bylaws otherwise provide, vacancies among the elected positions on the council that occur between 2 annual meetings may be filled by the council.
5 (1) An annual general meeting must be held for
(a) the election to fill vacancies on the council,
(b) the conduct of business specified in the bylaws, and
(c) the conduct of other business that may be brought before the meeting.
(2) The council may call a special general meeting as provided for in the bylaws.
(3) Unless the bylaws otherwise provide, only members described by section 14 (a), and who are in good standing, are eligible to vote at an annual general meeting or a special general meeting.
6 Subject to the bylaws, the officers of the institute are
(a) a president, one or more vice presidents and a treasurer, all elected by the council from the members elected to the council under the bylaws, and
(b) a chief executive officer and a secretary, both appointed by the council.
7 The council may set
(a) the admission fee for members, licence application fees for firms and registration fees for students,
(b) the annual dues or fees for members, licensed firms or students, and
(c) the amount of any other fee, levy or assessment that the bylaws authorize the council to require the members, licensed firms or students to pay.
3 The following section is added:
7.1 (1) The powers and capacity of the institute under section 2 (1) may be exercised by the council on behalf of the institute.
(2) The council must pass a resolution to exercise a power or capacity under subsection (1).
(3) A resolution under subsection (2) may provide that a power or capacity may be exercised
(a) on a specified occasion, or
(b) from time to time.
(4) If a bylaw and a resolution are in conflict, the bylaw prevails.
4 Section 8 (2) to (4) is repealed and the following substituted:
(2) Without limiting subsection (1), the council may make bylaws respecting the following:
(a) annual general meetings and special general meetings, including
(i) the time, place and manner of holding these meetings,
(ii) the voting rights, if any, of members in a class under section 14, and
(iii) the voting procedures, including procedures for voting by proxy or by electronic means;
(b) elections to the council, including the election of members to the council on a regional basis;
(c) the terms of office of members elected to the council, including the staggering of their terms of office and the setting of terms of office longer than 24 months to facilitate the staggering of terms;
(d) officers of the institute, including the appointment, election and replacement of officers, and their powers, duties and remuneration;
(e) an executive committee of the council, including
(i) the establishment of the committee,
(ii) the appointment to and removal from the committee of council members,
(iii) the procedures to be followed by the committee,
(iv) the powers, duties and functions of the committee consistent with this Act and the bylaws, and
(v) the delegation of powers, duties and functions of the council to the committee;
(f) a committee, other than the executive committee, including
(i) the establishment of the committee by the council,
(ii) the appointment and removal of members of the committee by the council, including appointment and removal of persons who are not members of the council or members of the institute,
(iii) the procedures to be followed by the committee,
(iv) the powers, duties and functions of the committee consistent with this Act and the bylaws, including powers, duties and functions of the council that the council delegates to the committee, and
(v) the delegation of a duty or power of the committee to panels of the committee;
(g) the procedures for making and conducting reviews, by the council or a committee established under paragraph (e) or (f), of a decision or order of another committee established under paragraph (e) or (f);
(h) the procedures for making and the conduct of appeals, to the council or a committee established under paragraph (e) or (f), from a decision or order of another committee established under paragraph (e) or (f);
(i) standards of professional conduct, competency or proficiency for students or a class of members;
(j) qualifications and procedures for admission as a member, election as a fellow or enrolment as a student;
(k) the conduct of an investigation or a practice review under section 20;
(l) the establishment of a panel for the purposes of section 23 and the conduct of a proceeding under that section;
(m) the conduct of an inquiry;
(n) the establishment of a tariff of costs to partially indemnify
(i) the institute for the expenses it incurs to conduct an investigation under section 20,
(ii) the institute for the expenses it incurs concerning a proceeding under section 23,
(iii) the institute for the expenses it incurs respecting a committee conducting an inquiry,
(iv) the institute for the expenses it incurs in the conduct of a review referred to in paragraph (g),
(v) the institute for the expenses it incurs with respect to an appeal referred to in paragraph (h),
(vi) if section 24 (3) applies, a party to a proceeding referred to in subparagraphs (i), (ii), (iv) or (v), other than the institute, for the expenses they incur concerning the proceeding, and
(vii) if section 24 (3) applies, a party to an inquiry for their expenses incurred in the preparation for and the conduct of the inquiry;
(o) insurance against professional liability claims, including
(i) requirements that students, members or licensed firms maintain insurance,
(ii) the exemption of a student, a member or a licensed firm or a category of students, members or licensed firms from requirements established under subparagraph (i), and
(iii) authorization of the institute to act as agent for its students, members and licensed firms in obtaining the insurance;
(p) fees for insurance against professional liability claims, including provisions exempting students, members or licensed firms or a category of students, members or licensed firms from payment of all or part of an insurance fee;
(q) fees or dues for the purposes of section 7 (a) or (b), including the exemption of students, members or licensed firms or a category of students, members or licensed firms from payment of a fee or dues;
(r) fees, levies or assessments for the purposes of section 7 (c), including the exemption of students, members or licensed firms or a category of students, members or licensed firms from the requirement to pay a fee, levy or assessment;
(s) information relevant to the objects of the institute that students, members or licensed firms or a category of students, members or licensed firms must submit to the institute and the circumstances and timing of these submissions;
(t) licences, including
(i) the classes of licences,
(ii) the terms and conditions that must be met to be granted or to continue to hold a licence in a class of licences, including terms and conditions relating to the ownership and control of licensed firms, and
(iii) the procedures for the granting, suspension or cancellation of a licence.
(3) A tariff of costs established under subsection (2) (n) must not provide for the recovery of
(a) the remuneration paid to members of a committee,
(b) the remuneration of employees of the institute, or
(c) legal expenses of the institute other than those incurred to conduct a proceeding before a committee.
(4) The council must only deal with a matter listed under subsection (2) by
(a) enacting a bylaw, or
(b) acting as authorized under a bylaw.
(5) A bylaw, unless in the meantime confirmed at a special general meeting called for the purpose of considering it, has force only until the next annual general meeting, and in default of confirmation at that time ceases to have force.
(6) The council must file a copy of a bylaw with the minister within 30 days after the bylaw is confirmed at the special general meeting or annual general meeting.
(7) A bylaw may be disallowed by the Lieutenant Governor in Council within 45 days after the bylaw is filed under subsection (6).
(8) If the minister considers that a bylaw should be made, amended or repealed under subsection (2) (t) respecting the ownership or control of licensed firms to protect the public interest, the minister may, by notice in writing to the council, request that the council amend or repeal an existing bylaw, or make a new bylaw, under subsection (2) (t) to protect the public interest in the manner and by the date specified in the notice.
(9) If the council does not comply with a request under subsection (8), the Lieutenant Governor in Council may amend or repeal the existing bylaw or make the new bylaw in accordance with the request.
5 Section 9 is repealed and the following substituted:
9 The council may determine one or more of the following:
(a) requirements for enrollment and training of students;
(b) curriculum of studies to be pursued by students;
(c) the fitness and character required of a person applying to be examined or evaluated;
(d) the curriculum on which candidates for certificates of competency must be examined or evaluated;
(e) standards of skill and competency;
(f) fees to be paid by persons applying for examination or evaluation;
(g) the rules, not contrary to this Act or the bylaws of the institute, for examinations or evaluations.
6 Sections 10 and 11 (1) are amended by striking out "examinations" and substituting "examinations or evaluations".
7 Sections 12 to 14 are repealed and the following substituted:
12 A person who has failed to pass an examination or evaluation and who feels aggrieved by the manner by which the examination or evaluation was conducted may appeal to the Supreme Court within 3 months from the date of the publication of the result of the examination or evaluation.
13 (1) The institute may establish educational programs for students in accountancy.
(2) The institute may make arrangements with a university, university college, college or other educational body for the preparation of students in accountancy through educational programs offered by the university, university college, college or other educational body that meet the requirements of the curriculum established under section 9 (b) and the bylaws.
14 The classes of members of the institute are as follows:
(a) chartered accountant members, including fellows;
(b) associate members;
(c) other classes of members established by bylaw.
8 The following sections are added:
14.1 (1) In this section, section 14.2 and section 14.3, "holding company" means a corporation incorporated under the Company Act or registered under Part 10 of that Act, all of the voting shares of which are legally and beneficially owned, directly or indirectly, by members in good standing described by section 14 (a).
(2) Subject to the bylaws, the council may issue or renew a licence to a firm on application by a person who
(a) holds a direct or indirect proprietary interest in the firm,
(b) is a member in good standing described under section 14 (a), and
(c) is authorized by the firm to bring the application.
(3) Despite subsection (2), the council must not issue a licence for a corporation incorporated under the Company Act or registered under Part 10 of that Act unless
(a) the corporation is in good standing under the Company Act,
(b) all voting shares of the corporation are legally and beneficially owned by members in good standing described by section 14 (a) or by holding companies,
(c) all the directors of the corporation are members in good standing described by section 14 (a),
(d) the president of the corporation is a member in good standing described by section 14 (a), and
(e) each person who provides accounting services in British Columbia to the public on behalf of the corporation is
(i) a member in good standing described by section 14 (a), or
(ii) under the direct supervision of a member in good standing described by section 14 (a) who is an employee or shareholder of the firm.
(4) Subject to the bylaws, if
(a) a shareholder, director or president of a firm which is licensed under subsection (2) dies or resigns from the firm, or
(b) a shareholder of a holding company owning shares in the firm dies or resigns from the holding company and, in consequence, the firm ceases to meet the criteria set out in subsection (3) for a licence,
the firm may continue to hold a licence for a period of 6 months after the death or resignation.
(5) The council may refuse to issue or renew a licence under subsection (2)
(a) if the firm has had its licence to practise cancelled or suspended previously, or has had its application to renew a licence refused previously,
(b) if a shareholder, partner or proprietor of the firm, or a shareholder of a holding company that owns shares in the firm, was a shareholder, partner or proprietor of a firm that had its licence cancelled,
(c) if a shareholder, partner or proprietor of the firm, or a shareholder of a holding company that owns shares in the firm, has had his or her membership cancelled or suspended previously, or has had his or her application to renew membership refused previously, or
(d) in accordance with the bylaws under section 8 (2) (t).
14.2 (1) A shareholder of a corporation licensed under section 14.1 must not enter into a voting trust agreement, proxy agreement or any other type of agreement that vests in another person who is not a member described by section 14 (a) the authority to exercise the voting rights attached to any or all of the shares of the corporation if the exercise of those voting rights could result in persons who are not members holding the majority voting control of the corporation.
(2) A shareholder of a holding company owning shares in a corporation licensed under section 14.1 must not enter into a voting trust agreement, proxy agreement or any other type of agreement that vests in another person who is not a member described by section 14 (a) the authority to exercise the voting rights attached to any or all of the shares of the corporation if the exercise of those voting rights could result in persons who are not members holding the majority voting control of the corporation.
14.3 (1) The civil liability for professional negligence as an accountant of a member described by section 14 (a) is not affected by the fact that the member acted professionally as an employee on behalf of a licensed firm.
(2) The relationship of a member described by section 14 (a) to a licensed firm as
(a) a shareholder, director, officer or employee of the licensed firm, or
(b) a shareholder of a holding company that owns shares in the firm
does not affect, modify or diminish the application to the member of this Act or the bylaws.
(3) This Act does not affect, modify or limit any law applicable to the fiduciary, confidential or ethical relationships that exist between a member or firm and a person receiving accounting services from the member or firm.
(4) The relationship between a licensed firm and a person receiving accounting services through the licensed firm is subject to all applicable laws relating to the fiduciary, confidential and ethical relationships that exist between a member described by section 14 (a) and the member's client.
9 Sections 15 to 17 are repealed and the following substituted:
15 (1) A member described by section 14 (a) may use the designation "Chartered Accountant" or the initials "C.A." signifying that designation.
(2) A licensed firm may use the designation "Chartered Accountant" or the initials "C.A." signifying that designation.
(3) Subsection (2) only applies to a firm that is a partnership if
(a) each partner resident in British Columbia is a member described by section 14 (a) or is a corporation licensed under section 14.1 (2), and
(b) each partner that is not resident in British Columbia and not a member described by section 14 (a) or a corporation licensed under section 14.1 (2) is
(i) a member of a body of chartered accountants incorporated by an enactment that corresponds to this Act in a province or Bermuda, or
(ii) a corporation recognized and approved for the practice of public accounting by a body of chartered accountants incorporated by an enactment that corresponds to this Act in a province or Bermuda.
(4) A member who becomes a fellow may use the designation "Fellow of the Chartered Accountants" or the initials "F.C.A." signifying that designation.
(5) A member described by section 14 (b) may use the designation "Associate of the Chartered Accountants" or the initials "A.C.A." signifying that designation.
(6) A person on whom the council has conferred honorary membership under section 16 (1) may use the designation "Chartered Accountant, Honorary" or the initials "C.A. (Hon.)" signifying that designation.
(7) A person entitled under subsection (1), (2), (4), (5) or (6) to use a designation or initials in the English language is also entitled to use and display the designation or initials together with their equivalent in a language other than English.
(8) The use of a designation or initials under this section must conform to the bylaws.
16 (1) The council may confer honorary membership in the institute on persons the council considers to have rendered conspicuous service to the institute.
(2) Honorary membership does not confer the right to be elected to the council, to vote or to practise as a chartered accountant.
17 (1) Except as authorized or permitted by this Act, a person must not
(a) use or display the designation "Certified Accountant", "Chartered Accountant", "Fellow of the Chartered Accountants", "Associate of the Chartered Accountants" or "Chartered Accountant, Honorary" or the initials "C.A.", "F.C.A.", "A.C.A." or "C.A. (Hon.)",
(b) use or display a designation or the initials in a language other than English that is equivalent to the corresponding designation or initials referred to in paragraph (a), or
(c) in any other manner, imply, suggest or hold out that the person is a chartered accountant or possesses accounting qualifications granted or approved under the bylaws.
(2) A person must not imply, suggest or hold out that the person is a certified public accountant or a certified public auditor or use or display the designation "certified public accountant" or "certified public auditor" or the initials "C.P.A." signifying that designation unless
(a) the person is a member in good standing described in section 14 (a),
(b) the designation or initials are used or displayed together with and follow the designation "Chartered Accountant" or the initials "C.A.",
(c) the use or display is accompanied by the name of the jurisdiction where the designation "certified public accountant" or "certified public auditor" or the initials "C.P.A." were granted, and
(d) the jurisdiction where the designation "certified public accountant" or "certified public auditor" or the initials "C.P.A." were granted authorizes the person to use and display it in that jurisdiction.
(3) A licensed firm must not imply, suggest or hold itself out as a certified public accountant or a certified public auditor or use or display the designation "certified public accountant" or "certified public auditor" or the initials "C.P.A." signifying that designation.
(4) This section does not apply to the use or display of a designation or initials as provided for by section 14 of the Accountants (Certified General) Act.
10 Section 18 is amended by striking out "as accountant." and substituting "as accountant in British Columbia."
11 Section 19 is amended
(a) by repealing subsection (1) and substituting the following:
(1) The council must keep a register which may be in electronic form and in which must be entered the names of all
(a) members by class of membership, and
(b) licensed firms by class of licence. , and
(b) by repealing subsections (4) and (5) and substituting the following:
(4) The register, or a copy of it certified by the secretary, is proof in the absence of evidence to the contrary in all courts and before all persons that
(a) the persons whose names are entered in it are members in good standing,
(b) the firms whose names are entered in it are licensed firms,
(c) the persons whose names are not entered in it are not members, and
(d) the firms whose names are not entered in it are not licensed firms.
(5) For persons and firms whose names are not entered under subsection (1), the register may include a record of the names, and the period for which their names were entered, of
(a) the persons whose names were formerly entered in the register as members, or
(b) the firms whose names were formerly entered in the register as licensed firms.
12 Section 20 is amended by adding the following subsections:
(7) A provision of this section that applies to a member also applies to a licensed firm.
(8) A provision of this section that applies to a former member also applies to a formerly licensed firm.
13 Section 21 is amended
(a) by striking out "current or former member or a student" and substituting "member, former member, licensed firm, formerly licensed firm or student", and
(b) by striking out "a member." and substituting "a member or licensed firm."
14 Section 23 is amended
(a) in subsection (1) by striking out "member" in both places and substituting "member or licensed firm" and by striking out "person's membership pending" and substituting "membership of the person or licence of the licensed firm until",
(b) by repealing subsection (2) and substituting the following:
(2) If the panel decides under subsection (1) to suspend a member or the licence of a licensed firm, it must give written notice to the member or licensed firm of its decision, the reasons for it and the right of the member or licensed firm to apply to the Supreme Court to have the suspension removed. ,
(c) in subsection (3) by striking out "of a membership", by striking out "member" and substituting "member or licensed firm" and by striking out "person at the person's" and substituting "member or licensed firm at their", and
(d) by repealing subsection (4) and substituting the following:
(4) A member suspended or a licensed firm whose licence is suspended under subsection (1) may apply to the Supreme Court to have the suspension removed, and the court may make any order respecting the suspension that it considers appropriate.
15 Section 24 is repealed and the following sections are substituted:
24 (1) A committee appointed by the council for the purposes of this section may inquire, in accordance with the bylaws, into the competence, fitness to practise, or professional conduct of a member, former member, student, licensed firm or formerly licensed firm and decide whether that person or firm
(a) is incompetent,
(b) is unfit to practise,
(c) has committed professional misconduct,
(d) has
(i) as a member engaged in conduct unbecoming a member, or
(ii) as a licensed firm engaged in conduct that, if engaged in by a member, would have been conduct unbecoming a member, or
(e) has contravened this Act or the bylaws.
(2) If the committee finds that subsection (1) (a), (b), (c), (d) or (e) applies to a member, former member, student or firm, the committee may do one or more of the following:
(a) reprimand the member, former member, student or firm;
(b) suspend with or without conditions for a period specified by the committee
(i) the membership of the member,
(ii) the enrolment of the student, or
(iii) the licence of the licensed firm;
(c) cancel the membership of the member, the enrolment of the student or the licence of the licensed firm;
(d) bar the former member from applying for membership or the formerly licensed firm from being licensed
(i) for the period specified in the order, or
(ii) until the conditions specified in the order are met;
(e) impose conditions on the continuance of the member's membership, the student's enrolment or the licence of the licensed firm;
(f) impose a fine payable to the institute of not more than
(i) $25 000 for a firm that is a sole proprietorship or for a current or former member,
(ii) $100 000 for a firm that is not a sole proprietorship, and
(iii) $4 000 for a student;
(g) impose costs, based on the tariff established under section 8 (2) (n), against the current or former member, the student or the licensed or formerly licensed firm for the expenses the institute incurred to conduct an investigation under section 20 and in the preparation for and the conduct of a proceeding under section 23 or an inquiry.
(3) If the committee decides that the allegations giving rise to the inquiry were without merit, the committee may award costs, based on the tariff established under section 8 (2) (n), to the member, former member, student or firm against the institute for the expenses the member, former member, student or firm incurred regarding the investigations under section 20 or proceedings under section 23 or this section.
(4) Costs awarded under subsection (2) (g) must not exceed 100% of disbursements incurred by the institute, plus 50% of the other actual costs to the institute, to conduct an investigation under section 20 and in the preparation for and the conduct of a proceeding under section 23 or an inquiry.
(5) Costs awarded under subsection (3) must not exceed 100% of disbursements incurred by the member, former member, student or firm, plus 50% of the other actual costs to the member, former member, student or firm, incurred regarding the investigation under section 20 or proceedings under section 23 or this section.
(6) Despite subsection (4), if the committee is satisfied that the actual cost to the institute to conduct an investigation under section 20 or in the preparation for and the conduct of a proceeding under section 23 or an inquiry was made greater because of the reprehensible conduct of the member, former member, student or firm in the course of the carrying out of these proceedings, the committee may award further costs to the institute equal to 80% of the actual increase of the cost to the institute so caused.
(7) The committee and any member of the committee has, for the purposes of an inquiry, the same power as the Supreme Court has for the trial of civil actions
(a) to summon and enforce the attendance of a witness,
(b) to compel a witness to give evidence on oath or in any other manner, and
(c) to compel a witness to produce records and things in his or her possession or control.
(8) For the purposes of subsection (7), the failure or refusal of a person
(a) to attend,
(b) to take an oath or affirmation,
(c) to give evidence, or
(d) to produce the records or things in the person's possession or control
makes the person, on application to the Supreme Court, liable to be committed for contempt as if in breach of an order or judgment of the Supreme Court.
24.1 (1) The institute or a member, former member, student or firm against whom an order under section 24 is made may appeal that order to the Supreme Court on a question of law or jurisdiction.
(2) The Supreme Court may confirm, vary or reverse the order referred to in subsection (1) or send the matter back to the committee with directions.
(3) An appeal under subsection (1) must be brought within 30 days after written notice of the order was given to the member, former member, student or firm.
(4) An appeal from a decision of the Supreme Court lies to the Court of Appeal with leave of a justice of the Court of Appeal.
16 The following section is added:
24.2 (1) The institute may apply to the Supreme Court for an injunction restraining a person from contravening this Act or the bylaws.
(2) The court may grant an injunction sought under subsection (1) if the court is satisfied that there is reason to believe that there has been or will be a contravention of this Act or the bylaws.
(3) The court may grant an interim injunction until the outcome of an action commenced under subsection (1).
17 Section 26 (2) is repealed and the following substituted:
(2) A person who contravenes section 17 (1), (2) or (3) or 22 (1) commits an offence.
Accountants (Certified General) Act
18 Section 14 of the Accountants (Certified General) Act, R.S.B.C. 1996, c. 2, is repealed and the following substituted:
14 (1) A member of the association may use the designation "certified general accountant", and may use after the member's name the initials "C.G.A.", indicating that the member is a certified general accountant.
(2) A person must not
(a) use or display the designation "certified general accountant" or the initials "C.G.A.", alone or in combination with any other word, name, title, initial, letter or description, or
(b) imply, suggest or hold out that the person is a certified general accountant
unless the person is a registered member in good standing of the association.
(3) A person must not imply, suggest or hold out that the person is a certified public accountant, a certified public auditor or an accredited public accountant or use or display the designation "certified public accountant", "certified public auditor" or "accredited public accountant" or the initials "C.P.A." or "A.P.A." signifying that designation unless
(a) the person is a member in good standing of the association,
(b) the designation or initials are used or displayed together with and follow the designation "Certified General Accountant" or the initials "C.G.A.",
(c) the use or display is accompanied by the name of the jurisdiction where the designation "certified public accountant", "certified public auditor" or "accredited public accountant" or the initials "C.P.A." or "A.P.A." were granted, and
(d) the jurisdiction where the designation "certified public accountant", "certified public auditor" or "accredited public accountant" or the initials "C.P.A." or "A.P.A." were granted authorizes the person to use and display them in that jurisdiction.
(4) This section does not apply to the use or display of a designation or initials as provided for by section 17 of the Accountants (Chartered) Act.
Accountants (Chartered) Act
19 Section 14.1 (1) and (3) of the Accountants (Chartered) Act, R.S.B.C. 1996, c. 3, is amended
(a) by striking out "Company Act" wherever it appears and substituting "Business Corporations Act", and
(b) by striking out "under Part 10" and substituting "under Part 11".
20 This Act comes into force by regulation of the Lieutenant Governor in Council.
SECTION 1: [Accountants (Chartered) Act, renumbers section 1 as 1.1 and adds section 1] inserts a new section 1 to define "bylaw", "council", "firm", "inquiry", "institute", "licence", "licensed firm" and "member" as used in the Act and renumbers the former section 1 as section 1.1.
SECTION 2: [Accountants (Chartered) Act, re-enacts sections 4 to 7] revises eligibility criteria for Lieutenant Governor in Council appointees to council, council election and meeting procedures, voting rights, procedures for the selection of officers, and council's powers regarding fees, dues and levies.
SECTION 3: [Accountants (Chartered) Act, adds section 7.1] clarifies the council's authority to exercise the powers and capacity of the institute.
SECTION 4: [Accountants (Chartered) Act, amends section 8] broadens the council's bylaw-making powers and clarifies the bylaw approval process.
SECTION 5: [Accountants (Chartered) Act, re-enacts section 9] clarifies the council's authority to provide for the enrollment and training of students.
SECTION 6: [Accountants (Chartered) Act, amends sections 10 and 11] updates the use of terms to reflect the current practice of the institute.
SECTION 7: [Accountants (Chartered) Act, re-enacts sections 12 to 14] removes references to procedures for appealing examination results to the Supreme Court, updates language relating to student training, broadens the institute's ability to enter into education arrangements and establishes new classes of membership.
SECTION 8: [Accountants (Chartered) Act, adds sections 14.1 to 14.3] authorizes the council to issue practice licences to firms under certain conditions, prohibits voting trust, proxy and similar agreements and clarifies that practice through a licensed firm or holding company does not limit professional accountability.
SECTION 9: [Accountants (Chartered) Act, re-enacts sections 15 to 17] updates the titles and initials that may be used by members and non-members of the institute.
SECTION 10: [Accountants (Chartered) Act, amends section 18] clarifies the intended scope of this section.
SECTION 11: [Accountants (Chartered) Act, amends section 19] authorizes the council to include licensed and formerly licensed firms and former members in the membership register, clarifies the effect of entry or lack of entry in the register and allows entry by class of membership or licence.
SECTION 12: [Accountants (Chartered) Act, amends section 20] authorizes the council to investigate and conduct practice reviews of licensed and formerly licensed firms.
SECTION 13: [Accountants (Chartered) Act, amends section 21] broadens the institute's power to apply for a court order requiring firms to produce records for the purposes of an investigation or a practice review.
SECTION 14: [Accountants (Chartered) Act, amends section 23] extends the application of the suspension provision to licensed firms.
SECTION 15: [Accountants (Chartered) Act, re-enacts section 24 and adds section 24.1] expands the institute's inquiry and disciplinary powers allowing it to impose higher fines and to inquire into the conduct of, and to discipline, licensed and formerly licensed firms, and clarifies the scope and procedures for appeals.
SECTION 16: [Accountants (Chartered) Act, adds section 24.2] allows the institute to seek injunctive relief from contravention of the Act or bylaws.
SECTION 17: [Accountants (Chartered) Act, amends section 26] updates the list of offences to reflect other amendments by this Bill.
Accountants (Certified General) Act
SECTION 18: [Accountants (Certified General) Act, re-enacts section 14] allows use of the designation "certified public accountant", "certified public auditor" or "accredited public accountant" or the initials "C.P.A." or "A.P.A." in accordance with the Act or section 17 of the Accountants (Chartered) Act.
Accountants (Chartered) Act
SECTION 19: [Accountants (Chartered) Act, amends section 14.1] provides for the updating of references to the Company Act in section 14.1, as enacted by this Bill, when the Business Corporations Act is brought into force.
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