ARRANGEMENT OF SECTIONS
1. Short title.
THE INSTITUTE OF ACCOUNTANCY ARUSHA
3. Establishment of the Institute.
4. Objects and functions of the Institute.
5. The Council.
6. Powers and duties of Council.
THE STAFF OF THE INSTITUTE
9. Principal and acting Principal.
11. Administrative staff.
12. Academic staff.
13. Delegation of powers of appointment.
14. Transfer to and vesting in the Institute certain assets and liabilities of NBAA.
15. Council to be responsible for management assets, etc.
16. Funds of Institute.
17. Power to invest.
18. Annual estimates.
19. Accounts and audit.
20. Principal's report.
21. Annual statement of accounts to be laid before National Assembly.
23. Fees and allowances.
24. Minister may give directions.
25. Proceedings of Council or Committee not to be invalid by reason of irregularity.
26. Protection of members of Council and Committees.
THE INSTITUTE OF ACCOUNTANCY ARUSHA ACT
An Act to establish the Institute of Accountancy Arusha and to provide for matters connected therewith and incidental thereto.
[1st August, 1990]
[G.N. No. 298 of 1990]
Act No.1 of 1990
PRELIMINARY PROVISIONS (ss 1-2)
This Act may be cited as the Institute of Accountancy Arusha Act.
In this Act, unless the context otherwise requires–
"appropriate Board" means any Board established by the Council, for specific purpose;
"Council" means the Council of the Institute established by section 5;
"decree" means a decree promulgated by the Council under section 7;
"financial year", in relation to the Institute, includes the Institute's first accounting period, whether shorter or longer than a year, and if the Institute changes its accounting period, the period, whether shorter or longer than a year, employed to give effect to the change;
"Institute" means the Institute of Accountancy Arusha established by section 3;
"member" in relation to the Council or a Committee includes its chairman;
"Minister" means the Minister for the time being responsible for finance;
"Principal" means the Principal of the Institute appointed under section 9;
"Secretary" means the Secretary to the Council of the Institute;
"student" means any person accepted for any course of study conducted by the Institute.
THE INSTITUTE OF ACCOUNTANCY ARUSHA (ss 3-4)
(1) There is hereby established an of Institute which shall be known as the Institute of Accountancy Arusha.
(2) The Institute shall be a body corporate and shall–
(a) have perpetual succession and a common seal;
(b) in its corporate name, be capable of suing and being sued;
(c) be capable of purchasing and otherwise acquiring, and of alienating, any movable or immovable property; and
(d) subject to the provisions of this Act, have power from time to time to borrow such sums of money as it may require for its purposes.
The objects and functions of the Institute shall be–
(a) to provide facilities for the study of, and for training in, the principles, procedures and techniques of accountancy and such other related subjects as the Council may from time to time decide;
(b) to conduct training programmes leading to professional qualifications in accountancy and such other related subjects as the Council may from time to time decide;
(c) to sponsor, arrange and provide facilities for conferences and seminars for discussion of matters relating to accountancy; and
(d) to arrange for the research, consultancy, publication and general dissemination of materials produced in connection with the work and activities of the Institute.
ADMINISTRATION (ss 5-7)
(1) There shall be a Council of the Institute of Accountancy Arusha.
(2) The provisions of the First Schedule shall have effect as to the composition of the Council, tenure of office of its members, termination of their appointments, the proceedings of the Council and other matters in relation to the Council and its members as are provided therein.
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