Prohibition on practicing without practicing certificate

(1) With effect from the first day of January of the year immediately following the commencement of this Act, no person, unless he possesses a valid practicing certificate issued by the Council, shall practice as a public accountant. (2) A person practices as a public accountant within the meaning of sub-section (1) if, for reward, he prepares or examines financial, accounting or related statements, or issues any written report or certificate concerning any such statements, but a person does not practice accountancy as aforesaid by reason only that he does so in the course of his duties as an employee. (3) Any person not a member of the Institute who at the commencement of this Act– (a) is ordinarily resident in Belize; and (b) is obtaining not less than one-half of his taxable income from the public practice of accountancy, may apply for exemption from the provisions of section 9 (1). Such application shall be made to a Board comprising two persons appointed by the Minister, one of whom shall be the Chairperson having a casting vote and two persons appointed by the Institute, and must be filed within three months of the commencement of this Act. Thereafter, successful applicants shall be required to submit regular annual applications to the Board not later than the 31st January in each year. The Board’s decision shall be final; 12 (c) such persons as may be exempted under this section shall not be entitled to use any of the designations referred to in section 8 (2). (3A) The nationality of a national of a CARICOM Member State shall not be a ground for the refusal of an application for exemption pursuant to sub-section (3). (4) The provisions of sub-section (1) shall not apply to any person earning less than five thousand dollars from practice as a public accountant during any calendar year for which a practicing certificate would otherwise be required. (5) Any person who contravenes the provisions of this section commits an offence and shall be liable on summary conviction– (a) in the case of a first offence, to a fine not exceeding five hundred dollars or to imprisonment for a term not exceeding six months, or to both such fine and term of imprisonment; and (b) in the case of a second or subsequent offence, to a fine not exceeding two thousand dollars or to imprisonment for a term not exceeding one year, or to both such fine and term of imprisonment.