Act Repealed Latest version as at 08 May 1992 (as enacted) | 1992 No 37

New Zealand Society of Accountants Amendment Act 1992

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Contents

Short Title

Prescribed fees to be paid into Fidelity Fund

Chartered accountants may be required to pay levy

New Zealand Society of Accountants Amendment Act 1992

Public Act		1992 No 37
Date of assent		8 May 1992

	Title
1	Short Title
2	Prescribed fees to be paid into Fidelity Fund
3	Chartered accountants may be required to pay levy
	Administrative information

An Act to amend the New Zealand Society of Accountants Amendment Act 1963

BE IT ENACTED by the Parliament of New Zealand as follows:

1 Short Title

This Act may be cited as the New Zealand Society of Accountants Amendment Act 1992, and shall be read together with and deemed part of the New Zealand Society of Accountants Act 1958.

2 Prescribed fees to be paid into Fidelity Fund

(1)

Section 10 of the New Zealand Society of Accountants Amendment Act 1963 is hereby amended by repealing subsection (1) (as substituted by section 5(1) of the New Zealand Society of Accountants Amendment Act 1977 and amended by section 2(1) of the New Zealand Society of Accountants Amendment Act 1978), and substituting the following subsection:

“(1)

Except as provided in section 3(2) of this Act, every chartered accountant shall pay, for every period specified in subsection (1a) of this section, and in addition to any annual fee and other fees then payable by the chartered accountant, such fee as may from time to time be prescribed by resolution of the Council for the purposes of this Part of this Act.”

(2)

Section 2(1) of the New Zealand Society of Accountants Amendment Act 1978 is hereby consequentially repealed.

3 Chartered accountants may be required to pay levy

(1)

The New Zealand Society or Accountants Amendment Act 1963 is hereby amended by repealing section 11 (as amended by section 6 of the New Zealand Society of Accountants Amendment Act 1977), and substituting the following section:

“11

“(1)

If at any time the fund is not sufficient, or, in the opinion of the Council having regard to any prospective claims or liabilities likely to be received or incurred, may not be sufficient, to satisfy the liabilities of the New Zealand Society of Accountants in relation to the fund, the Council may by resolution impose on every chartered accountant to whom this Part of this Act applies, for payment into the fund, a levy of such amount as the Council thinks fit.

“(2)

The amount of every such levy shall become payable on a date or dates, and in a manner, to be fixed by the Council.”

(2)

Section 6 of the New Zealand Society of Accountants Amendment Act 1977 is hereby consequentially repealed.

This Act is administered in the Treasury.

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New Zealand Society of Accountants Amendment Act 1992