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NO. 4 OF 2004
(2) For the purposes of subsection (1)—
- (a) any Inquiry Committee appointed under the repealed Accountants Act shall continue to exist to complete the inquiry, investigation or proceedings, and may take such action or make such order or decision as it could have taken or made under the relevant provisions of the repealed Accountants Act; and
- (b) any action, order or decision that could have been taken or made by the Public Accountants Board under the relevant provisions of the repealed Accountants Act in connection with such inquiry, investigation or proceedings shall be taken or made in like manner by the Oversight Committee, as if a reference to the Public Accountants Board in those relevant provisions of the repealed Accountants Act were a reference to the Oversight Committee.
(3) Nothing in this section shall be taken as prejudicing section 16 (effect of repeal) of the Interpretation Act (Cap. 1).
Professional misconduct committed before appointed day
68. Where—
- (a) before the appointed day, a public accountant or an accounting corporation has committed any professional misconduct; and
- (b) on the appointed day, disciplinary proceedings under the repealed Accountants Act have not yet been instituted against the public accountant or accounting corporation for such professional misconduct,
the Oversight Committee may institute disciplinary proceedings under Part VI against the public accountant or accounting corporation for the professional misconduct.
Consequential amendments to other written laws
69.—(1) The Companies Act (Cap. 50) is amended—
- (a) by inserting, immediately after the word “formed” in section 17(4), the words “solely or mainly”; and
