ACT No. XVI of 1991 AN A CTw_nd die A «o • ."U111Cy ProftsSio .. ACI, C"p. 181.

laMe nt.

CE/oISV T AOONE

President

12th July . 1991

ACT No. XVI of 1991

AN A CTw_nd die A «o • ."U111Cy ProftsSio .. ACI, C"p. 181.

BE IT ENACTED by the P~sidcnt , by and with the advice and

consent of Ihe House of Rcpn::!C nla live5. in Ihis pre&c nt ParHament

as5C'mbled , and by lhe authority of the sam<: , as follows;-

I. ( I) This Act may be cited as lhe Account ancy ProfcMion

(Amendment) Act , 199 1, and $hall be read and a:mslf\lcd as o nc with

the Accountancy Profe5Sion Act , IH: rcinaftc r referred 10 as " the

M

principal Act

•

This ACl shall be deemed 10 have come into force o n the

(2)

1st June.IW1.

(I) Oan I-All jtSla ' jissejj ah 1-All la' I- I991 Ii ;emenda I-A n

clwar il· Professjon; la ' j·A ccoulllancy. u ghandu jinqara u jiftiehcm bap

waM3 ma ' ]-AII dwar il' Professjon; la' ]-A «ountuncy, hawnhckk iijed

'il quddiem imsejjah I-All printipal i".

(2)

Dan I-AI! ghandu jilqies li datlal fis--sell!! fl-JUI' Gunjti.

1991. L·anikolu J la' I.Att prinCipal; gl'landu jigi emendat kif ~j

1. (a) minflok il-paragrafu (cl) tas-subarti kolu (3) ghaoou

jidhol dan li gej

M( d) tklln kisbet il.grad la' Batillier la 'I -Arti ( BI-Ull uri )

n · ACCOUnlDIICY , jew kull grad ictlor miU-Un;versil~ la' Malta

ritOROXXUI mill-Bord b1'lala ekwivale nti ghalih

Ii:da mela persu na jkollha kwalifika akkademika li

gtla ndlla x'taq5am mal-professjon; la' 1-"c(O~J1IQII'Y I-isleS!;

btlalma fil-waql la 'l-applital2joni tkun rikononuta mill- Bord

btlala suffit jcnli gl'l all-fi nijiet ta' dan is-subartikolu, il-Bord

gi'landu jcienta lil dik jJ-pcrsuna mill-hligiet la' dan il-

paragrafu wara Ji dik il-pcrsuna tkun ghaddiet minn dak 1·

dJlmi jcw dawk l-ciamijiet fuq il-Jigijiet lokaH u fdawk is,

su!Uctti I-()/\ra li I-fiord jisla' jipprcskrivi:" ;

(b) minnufih wara I-paragrafu (d) lllS-subartikolu (3) ghandu

jidhol dan il-pa.-agrafu gdid 1; gej

lissodisfa lil Bnrd li jkollha espc rjcnza xierqa fiI·

M(e)

pmui ka la·l·accormtanq glial tm ien aggregal 1a' Il iel win,li

minn hom I·e k wivalent i la' mill· inqas sena ~rjenza ghandha

linkiseb wara li l·pcrsuna It un kishel jI·twalifiti aktadcmiti

mse mmija fiI ·plI ragrafu (d) la' dan is-suhartikolu.

M.

L-ani kolu" la' I-All principali gllandu ji~ emendat kif gej

(a) il-t licm" u li It un ukoll liModisfa lill·Bard li ghandha

espcrjenza xierqa fiI-prallika la'I-tlITOllnUlnq rrs,subartiknlu ( I)

lieghu ghandhom jill1assru;

(b)

is-subarti kolu (2) lieghu glland u jilhassar; u

(c) is·suba rti kolu (3) lieghu gh andu jigi ('nume ral mill -gdid

bllala s-subartikolu (2) lieghu ,

Section 3 of the pri ncipal Act shall be amended as follows

for paragraph (d) of subs«ti on (3) there shall be

(a)

substituted the following

" (d)

he has obtai ned the degree of Bachelor of Arts

( Honours) in Accountancy, or any OIher degree from Ihe

University of Malta rerognisc:d by the Board to be equivalent

thereto

Provided that where a pe rson holds an academic

qualification relating to the accoun tancy profession as at the

time of application is recognised by the Board to be sufficient

fo r the purposes of thi s subsect ion . the Board shall excmpt

sueh person from the requirements of this paragraph after such

person shall have passed such examination or examinatio ns in

local laws and in those other subjects as the Board may

prescribe :~

(b) immedia tely after paragraph (d) of §lJbsection (3) the re

shall be added the following new paragraph

"(el he s;l tisflC's tile Board that he has adequ~te

experi ence in th e practice of DCC(lunt ancy for an aggregate

periOO of three yean. of .... hich an equivalen t of at least one

year's uperience shall be gainoc:d after he has obtained the

academic qualifica tions stipulated in paragraph (d) of this

subsection ....

. ,.

Section 4 of the prir>cipal Act shall be amended as folio ......

0/ ooction •

(a) for the .... ords "a nd who also satisfies the Board that he priM""t_.

has adequate upcrience in the practice of accountancy" in

subsecti on ( 1) thereof Shall be ddeted;

(b) subsection (2) thereof shall be deleted; and

(c) subse(1ion (3) the reof shan be renum be red a5 subsection

(2) thereof.

For 5ubsection ( I ) of section 5 of the principal Act there shall A ... od ... ",

~:""" ~

be wb!ilituted the following

pri"";pooI A«.

A warrant to act as auditor shaH be issued by the

"(1)

Minister on the recommendation of the Board to a person .... ho

(a ) is a certified public acrountant ; and

satisfies the Board that

(b)

(i)

he has adeq uate qu alifications in audi ting; and

(ii) he has gained three years' full time uperiel'lCl

in auditing at a se nior level under thc supervision of a

holder of a warrant of Cert ifil'tl Public Accou ntant and

Auditor 01'" suc h full tin.e nperienc.: in aud.ti ng al an

adequate kvd in any country outside Malta under the

supervision of such person or persons wh om the Bo<u d

coflsiden; as adequate for the pufJX>St'. or a combination

of soch full time .-xperience in Mal la and outside Malta

Provided that al leaSI t .. -o years of Ih is experience

were gained afler otllaining the degree or arndemicqual-

ifica tion re lating to the accountancy prokssion pr~­

>iCril!ed in parag raph (d) of sub!iection (3) of secti on J of

this Act

Provided further that an y e~pcrie nce gaifled before

the qualification abo~e refe rred to shall be oonsider(d Co

amounl to onl y ofle half of the lime so spent and shall ifl

no case be deemed 10 exceed ORC year .".

Passed bylhe Houseof Represcnu l" 'esal SiningNQ. 541 ohhe 2nd July. 1991.

LAWRENCE GoNZI

SptQk.u

RICHARD J. CAUCII I

ACling Cle,k. /0 lilt H oUU! 0/ Rtpruen/olivu.

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