New Zealand Institute of Chartered Accountants Amendment Act 2014

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Reprint as at 1 July 2015

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

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

1	Title
2	Commencement
3	Principal Act
4	Section 2 amended (Interpretation)
5	New section 2A inserted (Transitional, savings, and related provisions)
	2A	Transitional, savings, and related provisions
6	Section 5 amended (Functions of Institute)
7	New sections 5A to 5C inserted
	5A	Duty to control and regulate profession of accountancy practised by members in New Zealand
	5B	Institute must perform duty to control and regulate profession but may delegate other functions
	5C	Specified association may act in its own interests rather than Institute’s interests
8	Section 6 amended (Rules of Institute)
9	Section 7 amended (Code of ethics)
10	New section 7A inserted (Membership rules may require membership of specified association)
	7A	Membership rules may require membership of specified association
11	Section 8 amended (Application of Part 3 of Legislation Act 2012 to certain rules and code of ethics)
12	New sections 8A and 8B and cross-heading inserted
		Provisions concerning specified association
	8A	Specified association
	8B	Members of Council or Executive Board may act in best interests of specified association rather than Institute
13	Section 15 repealed (Accountants and auditors must be qualified)
14	Sections 21 to 24 and Schedules 3 to 5 repealed
15	New Schedule inserted
16	Schedule 1 amended
	Schedule New Schedule inserted
	Reprint notes

The Parliament of New Zealand enacts as follows:

New Zealand Legislation