New Zealand Institute of Chartered Accountants Act 1996

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Version as at 28 October 2021

Coat of Arms of New Zealand

New Zealand Institute of Chartered Accountants Act 1996

Public Act
 
1996 No 39
Date of assent
 
24 June 1996
Commencement
 
see section 1

Act name: substituted, on 7 July 2010, by section 5(1)(a) of the New Zealand Institute of Chartered Accountants Amendment Act 2010 (2010 No 74).

Note

The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

This Act is administered by the Ministry of Business, Innovation, and Employment.

Contents

Title
1Short Title and commencement
2Interpretation
2ATransitional, savings, and related provisions
3Act to bind the Crown
New Zealand Institute of Chartered Accountants
4Continuation of Society as Institute
5Functions of Institute
5ADuty to control and regulate profession of accountancy practised by members in New Zealand
5BInstitute must perform duty to control and regulate profession but may delegate other functions
5CSpecified association may act in its own interests rather than Institute’s interests
6Rules of Institute
7Code of ethics
7AMembership rules may require membership of specified association
8Application of Part 3 of Legislation Act 2012 to certain rules and code of ethics [Repealed]
Provisions concerning specified association
8ASpecified association
8BMembers of Council or Executive Board may act in best interests of specified association rather than Institute
Matters relating to disciplining of members
9Professional Conduct Committee and disciplinary bodies to observe rules of natural justice
10Evidence at hearings of disciplinary bodies
11Disciplinary bodies may summon witnesses
12Protection for members of disciplinary bodies and others
13Enforcement of orders
Offences
14Improper use of terms implying membership of Institute
15Accountants and auditors must be qualified [Repealed]
16Failure to comply with summons of disciplinary body
Appointment of agent to conduct practice of sole practitioner
17Agent may be appointed to conduct sole practitioner’s practice
Miscellaneous provisions
18References to Society
18AReferences to Institute of Chartered Accountants of New Zealand
19References to chartered accountants
20Fees payable to Registrar
21Fidelity fund [Repealed]
22Transitional provision relating to disciplinary proceedings [Repealed]
23Amendments to other Acts [Repealed]
24Repeals [Repealed]
Schedule 1AA
Transitional, savings, and related provisions
Schedule 1
Appointment of agent to conduct sole practitioner’s practice
Schedule 2
Amendments to New Zealand Society of Accountants Amendment Act 1963
[Repealed]
Schedule 3
Enactments relating to fidelity fund repealed
[Repealed]
Schedule 4
Enactments amended
[Repealed]
Schedule 5
Enactments repealed
[Repealed]
Notes

An Act to—

(a)

continue the New Zealand Society of Accountants under the name New Zealand Institute of Chartered Accountants; and

(b)

require the Institute to have rules governing membership, discipline, and other matters and a code of ethics governing the professional conduct of its members; and

(c)

prohibit the use of terms implying membership of the Institute by persons who are not members; and

(d)

provide for related matters; and

(e)

repeal the New Zealand Society of Accountants Act 1958

Title paragraph (a): amended, on 7 July 2010, by section 4 of the New Zealand Institute of Chartered Accountants Amendment Act 2010 (2010 No 74).