36R Exemption from membership requirement for certain members of religious societies or orders

(1)

Section 36(1)(a)(i) or (ab)(i) (requirement to be a chartered accountant or member of an accredited body) does not apply to a person (A) if—

(a)

the relevant body is satisfied that A is a practising member of a religious society or order whose doctrines or beliefs preclude membership of any organisation or body other than the religious society or order of which A is a member; and

(b)

the relevant body has entered into a written arrangement with A that complies with section 36T.

(2)

The exemption under subsection (1) ceases if—

(a)

the relevant body ceases to be satisfied as referred to in subsection (1)(a) and gives written notice of that fact to A; or

(b)

the arrangement is terminated or otherwise comes to an end (unless a subsequent arrangement that complies with section 36T is entered into).

(3)

See also section 36I(2), which provides for the cancellation or suspension of recognition if there has been a material failure to comply with an arrangement.

(4)

In this section, relevant body means,—

(a)

in relation to section 36(1)(a)(i), the Institute; or

(b)

in relation to section 36(1)(ab)(i), another accredited body.

Section 36R: inserted, on 1 July 2015, by section 8 of the Financial Reporting Amendment Act 2014 (2014 No 64).