Accountancy Profession (Amendment) Regulations, 2019

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 20,171, 16 ta’ April, 2019

Taqsima B

L.N. 78 of 2019

ACCOUNTANCY PROFESSION ACT

(CAP. 281)

Accountancy Profession (Amendment) Regulations, 2019

IN EXERCISE of the powers conferred by 8 and 8A of the

Accountancy Profession Act, the Minister for Finance, on the

recommendation of the Accountancy Board, the Minister for Finance

has made the following regulations

(1) The title of these regulations is the Accountancy Citation and

Profession (Amendment) Regulations, 2019, and these regulations scope.

shall be read and construed as one with the Accountancy Profession S.L. 281.01

Regulations, hereinafter referred to as "the principal regulations" .

(2) These regulations implement certain provisions of

Directive 2015/849/EU of the European Parliament and of the Council

of 20 th May 2015 on the prevention of the use of the financial system

for the purposes of money laundering or terrorist financing.

In regulation 8 of the principal regulations immediately Amends

after sub-regulation (12) thereof there shall be added the following regulation

the principal

new sub-regulations

regulations.

"(13) The Board shall take the necessary measures with

regard to an audit firm or an accountancy firm regulated under

the Act conducive to preventing criminals convicted in relevant

areas or their associates from holding a management function in

or being the beneficial owners of such audit firm or accountancy

firm.

(14) The Board shall also take the necessary measures

with regard to a holder of a practising certificate in auditing or a

certified public accountant in public practice regulated under the

Act conducive to preventing criminals convicted in relevant

areas or their associates from holding a management function in

their practice.".

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