Institute of Chartered Accountants (Amendment) Law (No. 34 of 1975)

Sri Lanka Consolidated Acts

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Institute of Chartered Accountants (Amendment) Law (No. 34 of 1975) - Sect 4

Amendment of section 9 of the principal enactment

4. Section 9 of the principal enactment is hereby amended by repeal of subsection (2) of that section and the substitution therefor of the following new subsection: -

" (2) It shall be the duty of the Council-

	(a) to conduct or provide for the conduct of the qualifying examinations for membership of the Institute and to prescribe or approve courses of study for such examinations;

	(b) to supervise and regulate the engagement, training and transfer of articled clerks who have entered into articles of agreement on or before the relevant date;

	(c) to supervise and regulate the registration of students and the courses of practical training for such registered students for such period as may be prescribed by the Council;

	(d) to specify the class of persons who shall have the right to train articled clerks who have entered into articles of agreement on or before the relevant date, and to specify the circumstances in which any person of that class may be deprived of that right;

	(e) to fix the maximum amount of the premia or fees to be charged from articled clerks who have entered into articles of agreement on or before the relevant date and the conditions subject to which such fees are to be charged;

	(f) to maintain and publish a Register of members of the Institute and a Register of persons authorized to practise in Sri Lanka as Chartered Accountants;

	(g) to secure the maintenance of professional standards among members of the Institute and to take such steps as may be necessary to acquaint them with the methods and practices necessary to maintain such standards;

	(h) to maintain a library of books and periodicals relating to accountancy and to encourage the publication of; such books in Sri Lanka;

	(i) to carry out and encourage research in Sri Lanka in the subjects of accountancy, audit and other related subjects and generally to promote the education , training and advancement of the registered students and secure the well-being and advancement of the profession of accountants;

	(j) to approve the scheme of practical training to be followed by the registered students; and

	(k) to require any institution to provide information to the Council with regard to facilities available for training students in accounting and audit.".

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