Chartered Accountants Act


The Chartered Accountant (Amendment) By-laws, 2002

It is hereby notified that the Minister of Justice, Legal and Parliamentary Affairs has in terms of section 20 of the Chartered Accountants Act (Chapter 27:02) approved the following by-laws made by the Council of the Institute of Chartered Accountants of Zimbabwe.

Title

1. These by-laws may be cited as the Chartered Accountants (Amendment) By-laws, 2002 (No.3)

Interpretation of terms

2. In section 2 the definition of “principal” is amended by the deletion of “seventy-five per centum” and the substitution of “fifty comma one per centum” thereof .

Affiliate Membership
3. The following new Part is inserted in the principal by-laws between Part V and Part VI

“ Part Va

AFFILIATE MEMBERSHIP OF THE INSTITUTE
Application for affiliate membership of the Institute

33a.

1. Application for affiliate membership of the Institute shall be made to the Council in a form approved by Council.
2. An applicant for affiliate membership of the institute shall certify that the information given by him on the form referred to in subsection (1) is complete, true and correct and shall, in the event of his admission to the Institute, undertake to observe the Act and these by-laws in so far as they refer to affiliate members and the Rules or Professional Conduct referred to in section 21.
3. An applicant for affiliate membership of the Institute shall satisfy the Council that he is-
1. Qualified for registration as an affiliate member in terms of section 33b; and
2. Is a fit and proper person to be admitted to affiliate membership of the Institute.

Requirements for registration as an affiliate member
33b. A person shall be qualified for admission to affiliate membership if –

1. he holds a qualification recognised by the Council and
2. he has completed his training in accordance with the by-laws.

Resignation from Institute
33c.

1. An affiliate member may at any time resign his membership by
1. notice in writing to the Council; and
2. submitting with his notice the certificate of membership issued to him: Provided that the Council may dispense with the requirement of paragraph (b) of this sub-section if it is satisfied that the affiliate member has lost his certificate or that the certificate has been destroyed.
2. Notice given in terms of subsection (1) after the 31st of March in any year shall not relieve an affiliate member from his liability to pay the annual subscription in respect of the current year.

Removal from register of an affiliate
33d. The Council shall remove from the register the name of any affiliate member who has died, has resigned or ceases to be qualified as an affiliate member in terms of section 33b.

Liability to pay subscription
33e.

1. An affiliate member shall be liable to pay the annual subscription fees on or before the 31st July of the year in respect of which it is due and-
1. if he fails to pay the subscription fees on or before 31st July, he shall, subject to subsection (2), be liable to pay to the Institute such surcharge as the Council may impose;
2. if he fails to pay such subscription, together with any surcharge referred to in paragraph (a), on or before the 31st of October of the year in which such subscription is due, he shall subject to subsection (3), be liable to have his name removed from the Register by the Council.
2. A surcharge imposed in terms of subsection (1) –
1. shall not exceed twenty-five per centum of the annual subscription for each month or part thereof during which the subscription remains unpaid;
2. may be remitted by the Council in whole or in part if the person concerned proves to the satisfaction of the Council that the remission is justifiable.
3. The Council shall not remove the name of any person from the register in terms of paragraph (b) of subsection (1) unless-
1. payment of the annual subscription fees and any surcharge due has been demanded by registered letter sent through the post to the affiliate member at his registered address, or if none, at his last known address; and
2. the Council has-
1. informed the affiliate member concerned by registered letter sent through the post to such member at his registered address or his last known address, of its intention to remove his name from the Register; and
2. afforded him a period of not less than thirty days within which to pay his subscription and any surcharge, or make representations to the Council as to why his name should not be removed from the Register.
4. A person whose name has been removed from the Register in terms of subsection (1) and who subsequently wishes to be reinstated on the Register shall apply in terms of section 33a.

Certificate of affiliate membership
33g

1. A certificate of affiliate membership of the Institute shall be in form approved by the Council and shall remain the property of the Institute.
2. An affiliate member shall be entitled to a certificate of membership but shall return the certificate in the event of his resignation, suspension or cancellation of registration.”.

Representation of affiliate members

3. Subsection (1) of section 3 is amended by the insertion after paragraph (f), of –

“(g) not more than one shall be appointed by the president in terms of section 11A to represent the interests of affiliate members”

4. The following new section is inserted after section 11 -

“ 11A. A member appointed by the president in terms of paragraph (g) of subsection (1) of section 3 shall-

1. hold office for a period not exceeding three years as the President may fix at the time of his appointment;
2. hold office subject to section 8, other than paragraph (h) of subsection (1) thereof; and
3. be eligible for reappointment on the expiry of his term of office.”

Annual subscription

5. Section 28 is amended by the repeal of subsection (2) and the substitution of – “
1. categories of members grouped by residence or non-residence in Zimbabwe, by age groups, or by whether they are practising, non practising or inactive; or
2. categories of affiliate members grouped by residence or non-residence in Zimbabwe or by age groups, or
4. honorary members;
5. honorary life members; or
6. life members.”

Giving of notices

6. Section 58 is amended by the insertion of :
1. “ or an affiliate member” between “member and “Institute…”; and
2. “ ,the Rules of Professional Conduct or the Act,” between “in terms of these by- laws” and “may be sent by post…”

Registered addresses

7. Section 59 is amended by the insertion of “and affiliate member” after “member” .

Practising certificates

8. Section 34 is amended in subsection (3)
1. in paragraph (c) by the insertion after “audit certificate” of “prepared by a Registered Public Auditor”;
2. in paragraph (d) by the deletion of “sworn” ; and
3. by the insertion after paragraph (e) of the following paragraph - “ (f) a list of all partners and shareholders with whom he is associated in the provision of professional service.”

Permission to sit examinations

9. Section 53 subsection (3) is amended by the deletion of the words “ three months” and the substitution of “one month” therefor.