| 12. | Appointment of Registrar and functions of Registrar. | |
| | For the purpose of this Act the Institute shall with the approval of the Minister appoint a Registrar who shall exercise and discharge the functions conferred or imposed on him by this Act or any rules or by by-laws made under this Act. | |
| 13. | Register of accountants. | |
| (1) | The Council shall cause to be maintained a register of members in which the members shall be classified as- | |
| | (a) | chartered accountants; | [Subs. Act A1099] |
| | (b) | licensed accountants; and | |
| | (c) | associate members. | |
| (2) | The register shall be kept at the office of the Institute and shall be available for inspection at reasonable hours on payment of a prescribed fee. | |
| (3) | The Council shall cause to be published in the Gazette a copy of the register at least once in every year. | |
| 14. | Membership of Institute. | |
| (1) | Subject to subsections (3) and (6) every person on payment of the prescribed fee shall be entitled to be admitted as a member of the Institute, if- | |
| | (a) | he has passed any of the final examinations specified in Part I of the First Schedule and has not less than three years' practical accounting experience in the service of a chartered accountant or in a Government department, bank, insurance company, local authority or other commercial, financial, industrial or professional organisation or other undertaking approved by the Council; | [Amd. Act A1099] |
| | (b) | he is a member of any of the recognised bodies specified in Part II of the First Schedule; or | [Amd. Act A1099] |
| | (c) | he is eligible to sit for and has passed the Malaysian Institute of Accountants Qualifying Examination and has not less than three years' practical accounting experience in the service of a chartered accountant or in a Government department, bank, insurance company, local authority or other commercial, financial, industrial or professional organisation or other undertaking approved by the Council. | [Amd. Act A1099] |
| (2) | For the purposes of subsection (1) (a) a person shall be deemed to have passed the examinations referred to in that subsection or any part of such examinations, as the case may be, if he has passed an examination or part of an examination (whether in Malaysia or elsewhere) which is recognised by the Institute as being equivalent to or higher than the examinations or part thereof first mentioned in this subsection. | |
| (3) | No person shall be admitted by the Council as a member of the Institute if he is less than twenty-one years of age or if in the opinion of the Council he is not a fit and proper person to be admitted as a member. | |
| (4) | Any person dissatisfied with the decision of the Council under subsection (3) may appeal to the High Court. | |
| (5) | The procedure governing appeals under subsection (4) shall be substantially the same as for appeals to the High Court from decisions of a Subordinate Court in civil matters. | |
| (6) | A body corporate shall not be eligible for membership of the Institute. | |
| (7) | The Minister may after seeking the advice of the Institute, by order published in the Gazette amend the First Schedule as he think fit. | |
| 15. | Membership as chartered accountants. | [Subs. Act A1099] |
| | An applicant shall, before admission as a chartered accountant, satisfy the Council that- | |
| | (a) | he has passed any of the final examinations specified in Part I of the First Schedule and has not less than three years' practical accounting experience in the service of a chartered accountant or in a Government department, bank, insurance company, local authority or other commercial, financial, industrial or professional organisation or other undertaking approved by the Council; | |
| | (b) | he is a member of any of the recognised bodies specified in Part II of the First Schedule; | |
| | (c) | he is eligible to sit for and has passed the Malaysian Institute of Accountants Qualifying Examination and has not less than three years' practical accounting experience in the service of a chartered accountant or in a Government department, bank, insurance company, local authority or other commercial, financial, industrial or professional organisation or other undertaking approved by the Council; or | |
| | (d) | he has authority under section 8(2) and (6) of the Companies Act 1965 [Act 125] to act as a company auditor without limitation or conditions. | |
| 15A. | Malaysian Institute of Accountants Qualifying Examination. | [Ins. Act A1099] |
| (1) | For the purposes of sections 14 and 15, the Malaysian Institute of Accountants Qualifying Examination- | |
| | (a) | shall be conducted by the higher educational institutions specified in Part I of the Third Schedule or the recognised bodies specified in Part II of that Schedule; and | |
| | (b) | shall not be conducted without the approval of the Institute. | |
| (2) | A person shall only be eligible to sit for the Malaysian Institute of Accountants Qualifying Examination if he possesses a qualification relating to accounting, business or finance recognised by the Public Services Department of the Government or other qualifications approved by the Council. | |
| (3) | The Minister may, after consulting the Institute, by order published in the Gazette amend the Third Schedule. | |
| 16. | Membership: Licensed accountants | |
| (1) | Notwithstanding section 14(1), but subject to section 14(3) and (6), every person on payment of the prescribed fee shall be entitled to be admitted as a member of the Institute as a licensed accountant- | [Subs. Act A1099] |
| | (a) | if he has been granted limited or conditional approval to act as an auditor of companies under section 8(6) of the Companies Act 1965, or if he has been in public practice as an accountant, a tax consultant or a tax adviser immediately before the coming into operation of this Act; or | |
| | (b) | if he is a member of the Malaysian Society of Accountants and has passed any of the final examinations of that body last held in December 1992 and has not less than three years' practical accounting experience in the service of a chartered accountant or in a Government department, bank, insurance company, local authority or other commercial, financial, industrial or professional organisation or other undertaking approved by the Council. | |
| (2) | A licensed accountant admitted under this section shall be subject to the same restrictions, limitations or conditions as have been imposed upon him under the Companies Act, 1965. | |
| (3) | A licensed accountant who has been certified by the Council acting on a report by a Committee appointed under section 10 as fit to be admitted as a chartered accountant, shall be entitled to be admitted as such. | [Am. Act A1099] |
| 16A. | Associate member. | [Ins. Act A1099] |
| (1) | Any person who is closely associated with the profession of accountancy or who has participated in the advancement of accountancy training and education but is otherwise not qualified under this Act to be admitted as a chartered accountant may, subject to section 14(3), be admitted as an associate member of the Institute on payment of the prescribed fees if he satisfies the requirements of the rules relating to the admission of an associate member made under section 7(1). | |
| (2) | An associate member is entitled to all the privileges accorded to a member who is a chartered accountant or a licensed accountant but is not entitled to vote at the meetings of the Institute held under paragraph 8 of the Second Schedule nor request for a general meeting under paragraph 8(2) of that Schedule. | |
| 17. | Entitlement. | |
| (1) | Subject to section 22 any member who has been registered as a chartered accountant shall, so long as he is so registered and continues to act as a chartered accountant, describe himself as a "Chartered Accountant", and may use the letters "C.A.(M)" after his name. | [Am. Act A1099] |
| (2) | (Deleted by Act A1099) | [Del. Act A1099] |
| (3) | Subject to section 23, any member who has been registered as a licensed accountant shall, so long as he is so registered, describe himself as a "Licensed Accountant", and may use the letters "L.A.(M)" after his name. | |
| (4) | Subject to section 23, any person who is registered as an associate member shall, so long as he is so registered, describe himself as an "Associate Member", and may use the letters "A.M.(M)" after his name. | [Ins. Act A1099] |
| 18. | Prohibition. | |
| | Without prejudice to any other provisions of this Act or rules or by-laws no member shall - | [Am. Act A1099] |
| | (a) | allow any person not being a member to practice in his name as a chartered accountant; | |
| | (b) | be a director or a shareholder in a company incorporated under the Companies Act, 1965, or any other written law, being a company which carries on a business of auditing, nor shall he use a trade or association name under which to practise the profession; | |
| | (c) | in any way, practise as a chartered accountant or licensed accountant other than- | [Am. Act A1099] |
| | | (i) | in his own name; | |
| | | (ii) | in the name or names of his partner or partners being chartered accountants or licensed accountants; or | |
| | | (iii) | in the name of a firm existing at the time of the coming into operation of this Act or formed thereafter provided that the partners in Malaysia are eligible to be registered as chartered accountants or licensed accountants; | |
| | (d) | certify accounts verified by a person other than a member of his firm or of his staff, unless the qualification of that other person and the extent of his work is disclosed; | |
| | (e) | directly or indirectly allow or agree to allow any advocate to participate in the profits of the member's professional work or participate in the profits of the professional work of an advocate; | |
| | (f) | directly or indirectly accept or agree to accept from an auctioneer, broker, or other agent employed for the sale or letting of or otherwise in dealing with any movable or immovable property in the management, administration, or disposal whereof the member or his partner or any of his partners is engaged, any part or proportion of any commission of or bonus on the charges payable to the auctioneer, broker, or agent, which is in the nature of a secret commission. | |
| | (g) | (Deleted by Act A1099) | [Del. Act A1099] |
| 18A. | Advertisement. | [Ins. Act A1099] |
| | A member who is a chartered accountant or a licensed accountant may advertise himself as being engaged in practice as a chartered accountant or licensed accountant respectively in accordance with by-laws made by the Council. | |