### Professional Accountants By-laws 《專業會計師附例》

39. Removal from register
(1) Subject to paragraph (2), the Registrar shall remove from the register the name of any registered student who—
(a) has not presented himself for any of the examinations of the Institute within 5 years from the date of his registration as a registered student; or (23 of 2004 s. 55)
(b) has not passed the final section of the examinations of the Institute within 10 years from the date of his registration as a registered student. (23 of 2004 s. 55)
(2) The Council may extend the period of time specified in paragraph (1)(a) or (b) in any particular case.

40. Establishment of Examinations Board
(1) There is hereby established an Examinations Board, the members of which, whether members of the Institute or not, shall be appointed by the Council and shall hold office until they resign or are removed from office by the Council.
(2) The functions of the Examinations Board shall be to advise the Council on—
(a) the conduct and control of examinations of the Institute;
(b) the appointment and remuneration of examiners; and
(c) such other functions as may be specified by the Council from time to time.
(3) Members of the Examinations Board shall be paid such fees as the Council may determine.
(23 of 2004 s. 55)

### Professional Accountants By-laws 《專業會計師附例》

41. Restriction on registration as a certified public accountant
(23 of 2004 s. 55)(1) Subject to paragraph (2), neither a registered student who passes the examinations of the Institute nor a member of an accountancy body accepted by the Council under section 24(1A) shall be registered as a certified public accountant unless he has not less than 5 years practical experience. (23 of 2004 s. 55)
(2) The Council may, in the case of—
(a) the holder of a degree awarded by an educational institute approved by the Council;
(b) the holder of a diploma in accountancy awarded by an educational institute approved by the Council who has attended a full time course for not less than 3 years; or
(c) a registered student who passes an entry examination approved by the Council and the “HKSA or HKICPA professional programme and examinations” held on or after 1 January 1999,
reduce the period of practical experience required by paragraph (1) by any amount as it thinks fit, not being more than 2 years. (L.N. 44 of 2010)
(3) In this by-law—
practical experience (實際經驗) means experience whether in Hong Kong or elsewhere acceptable to the Council as an employee of person practising public accountancy or in the financial or management accountancy department of an organization in industry, commerce or the public service or in a similar department.
(96 of 1994 s. 45)

42. Appointment of auditor
(1) The Institute shall at each annual general meeting appoint an auditor, who shall hold office until the next annual general meeting. (23 of 2004 s. 55)
(2) The Council may fill any casual vacancy in the office of auditor.

43. Qualification etc.
(1) A person shall not be eligible for appointment under by-law 42 as auditor unless he is a certified public accountant holding a practising certificate.
(2) The following persons shall not be qualified for appointment as auditor—
(a) a member of the Council; and
(b) a partner of a member of the Council.
(3) The remuneration of the auditor shall be fixed by the Council.
(23 of 2004 s. 55)

44. Retirement of auditor
The auditor shall be eligible for reappointment and shall be deemed to have been nominated for reappointment unless he informs the Council in writing, not less than 21 days before the annual general meeting, that he does not wish to be so nominated.
(23 of 2004 s. 55)

### Professional Accountants By-laws 《專業會計師附例》

45. Nomination of auditors
(1) A person, other than a retiring auditor, shall not be capable of being appointed auditor at an annual general meeting unless notice of intention to nominate him for appointment as auditor has been received by the Registrar not less than 14 days before the annual general meeting.
(2) Every such notice shall be signed by 2 or more certified public accountants and shall be accompanied by notice in writing from the person who is nominated that he is willing to be appointed as auditor. (23 of 2004 s. 55)
(3) The Registrar shall send a copy of such a notice to the retiring auditor.
(4) Notice of the names of all persons nominated for appointment, or deemed to have been nominated for reappointment, shall be sent to all certified public accountants not less than 17 days before the annual general meeting. (23 of 2004 s. 55)

46. Removal of auditor
(1) The Institute may, at a general meeting, by resolution passed by not less than two-thirds of the voting members voting thereon, remove the auditor from office and may, by resolution passed at the same meeting by a majority of the voting members voting thereon, appoint in his place another auditor. (23 of 2004 s. 55)
(2) If no such appointment is made, the Council may appoint another auditor in his place.

47. Indemnification of members of the Council and others
A member of the Council (which expression in this by-law and by-law 48 includes a member of a committee or sub-committee of the Council), an officer employed by the Council and the auditor shall each be indemnified by the Institute against any liability incurred by him in consequence of the performance of his duty as such, unless the same is caused by his wilful default, or, in the case of an auditor, his negligence or wilful default or that of his partner or employee.
(23 of 2004 s. 55)

48. Members of Council and others not to be liable for losses
A member of the Council, an officer employed by the Council and the auditor shall be liable only if liability arises from his own wilful default or, in the case of an auditor, from his own negligence or wilful default or that of his partner or employee.