Section 7B — ARCHITECTS ACT 1967

(2)

The body corporate that applies for registration under subsection (1) must be incorporated under the Companies Act 1965

and—

(a)

has a board of directors comprising Architects,

Professional Engineers with Practising Certificates or

Consultant Quantity Surveyors;

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(b)

has shares held by the persons mentioned in paragraph

(a)

and any of the following persons or bodies corporate where—

(i)

the Architects, Professional Engineers with

Practising

Certificate,

Consultant

Quantity

Surveyors, bodies corporate providing architectural consultancy services, bodies corporate providing professional engineering services or bodies corporate practising as

Consulting Quantity Surveying Practice hold a minimum combined share of 70% of the overall equity of that body corporate, of which the

Architects or bodies corporate providing architectural consultancy services hold a minimum share of 10%; and

(ii)

any other persons, including persons belonging to a profession allied to architecture, engineering or quantity surveying, being a profession approved in writing by the board regulating the profession of architecture, engineering or quantity surveying, respectively, hold a maximum share of 30%, of the overall equity of the body corporate; and

(c)

has a minimum paid-up capital which shall be an amount to be determined by the Minister.

(3)

Notwithstanding paragraph 7A(5)(b), where in a body corporate registered under subsection (1)—

(a)

the minimum shareholdings of an Architect or body corporate providing architectural consultancy services is less than the percentage stipulated in subparagraph

(2)

(b)

(i); or

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(b)

the minimum combined shareholdings of an Architect,

Professional Engineer with Practising Certificate,

Consultant Quantity Surveyor, body corporate providing architectural consultancy services, body corporate providing professional engineering services and/or body corporate practising as Consulting Quantity Surveying

Practice is less than the percentage stipulated in subparagraph (2)(b)(i), that body corporate shall, as soon as possible but not later than three months after such change in shareholdings or within any extended period of time as may be approved by the Board, increase the respective shareholdings so as to comply with the percentage as stipulated in subparagraph (2)(b)(i), and if that body corporate fails to do so within the stipulated time, the Board shall cancel its registration under this Act.

(4)

(Deleted by Act A1480).

(5)

In this section─

(a)

“Consultant Quantity Surveyor” and “Consulting

Quantity Surveying Practice” have the same meaning assigned to it in the Quantity Surveyors Act 1967 [Act 487]; and

(b)

“Professional Engineer with Practising Certificate” has the same meaning assigned to it in the Registration of

Engineers Act 1967 [Act 138].

Entitlement