Section 16

if he has been granted limited or conditional approval to act as an auditor of companies under subsection 8(6) of the

*Companies Act 1965, or if he has been in public practice as an accountant, a tax consultant or a tax adviser immediately before the coming into operation of this Act;

or

if he is a member of the Malaysian Society of Accountants and has passed any of the final examinations of that body last held in December 1992 and has not less than three years’ practical accounting experience in the service of a chartered accountant or in a Government department, bank, insurance company, local authority or other commercial, financial, industrial or professional organization or other undertaking approved by the Council.

A licensed accountant admitted under this section shall be subject to the same restrictions, limitations or conditions as have been imposed upon him under the *Companies Act 1965.

A licensed accountant who has been certified by the Council acting on a report by a Committee appointed under section 10 as fit to be admitted as a chartered accountant, shall be entitled to be admitted as such.

Associate member