Accounting Standards Act · 2023 Revised Edition · Part · Accounting Standards Council
5. Constitution of Council
Official textFrom Attorney General's Chambers, unchanged
The Council shall consist of the following members, all of whom shall be appointed by the Minister —
Council
“Council” means the Accounting Standards Council established under section 4;
a Chairman; and
at least five, but not more than ten other members.
A person shall not be appointed as a member of the Council unless the person’s knowledge of, or experience in, business, accounting, law or government or other relevant fields qualifies him for the appointment.
member
“member”, in relation to the Council, means a member of the Council and includes the Chairman thereof;
The Chairman and other members of the Council shall each hold office for such period (not exceeding 2 years) and on such terms and conditions as the Minister may determine, and shall be eligible for reappointment.
Chairman
“Chairman” means the Chairman of the Council appointed under section 5(1)(a), and includes any temporary Chairman of the Council if so appointed;
The Minister may appoint any member of the Council to be a temporary Chairman during the temporary incapacity from illness or otherwise, or during the temporary absence from Brunei Darussalam, of the
Chairman.
The Minister may, at any time, revoke the appointment of the
Chairman or any other member of the Council if he considers such revocation necessary in the interest of the effective performance of the functions of the Council under this Act or in the public interest.
Accounting Standards 8
A member of the Council may resign from his office at any time by giving not less than one month’s notice in writing to the Minister.
If any vacancy occurs in the membership of the Council, the
Minister may, subject to subsections (1) and (2), appoint a person to fill the vacancy.
The Chairman and other members of the Council may be paid such allowances and expenses as the Minister may determine.
Terms defined in s 2
Chairman
Defined · s 2“Chairman” means the Chairman of the Council appointed under section 5(1)(a), and includes any temporary Chairman of the Council if so appointed;
Council
Defined · s 2“Council” means the Accounting Standards Council established under section 4;
member
Defined · s 2“member”, in relation to the Council, means a member of the Council and includes the Chairman thereof;
Part
Accounting Standards for Companies and Other Persons
Part
Accounting Standards for Statutory Bodies
Part