Tanzania
Institute of Accountancy Arusha Act
Chapter 240
- Published in Tanzania Government Gazette
- Commenced on 1 August 1990
- [This is the version of this document at 31 July 2002.]
- [Note: This legislation has been thoroughly revised and consolidated under the supervision of the Attorney General's Office, in compliance with the Laws Revision Act No. 7 of 1994, the Revised Laws and Annual Revision Act (Chapter 356 (R.L.)), and the Interpretation of Laws and General Clauses Act No. 30 of 1972. This version is up-to-date as at 31st July 2002.]
Part I – Preliminary provisions (ss. 1-2)
1. Short title
This Act may be cited as the Institute of Accountancy Arusha Act.2. Interpretation
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.Part II – The Institute of Accountancy Arusha (ss. 3-4)
3. Establishment of the Institute
4. Objects and functions of the Institute
The objects and functions of the Institute shall be—Part III – Administration (ss. 5-7)
5. The Council
6. Powers and duties of Council
7. Rules
Part IV – Committees (s. 8)
8. Committees
Part V – The staff of the Institute (ss. 9-13)
9. Principal and acting Principal
10. Secretary
11. Administrative staff
The administrative staff of the Institute shall, subject to the provisions of section 13, be appointed by the Council.12. Academic staff
The members of the academic staff of the Institute shall, subject to the provisions of section 13, be appointed by the Council.13. Delegation of powers of appointment
The Council may, subject to such conditions and restrictions as it may impose, delegate to any person or body of persons, the power of appointment of any member of the administrative or the academic staff of the Institute.Part VI – Financial provisions (ss. 14-21)
14. Transfer to and vesting in the Institute certain assets and liabilities of NBAA
15. Council to be responsible for management of assets, etc.
The Council shall manage all the assets and properties, movable and immovable, of the Institute, in such manner and for such purposes as in the opinion of the Council would promote the best interests of the Institute.16. Funds of Institute
The funds and resources of the Institute shall consist of—17. Power to invest
The Council shall have power to invest the funds of the Institute in such investments as are authorised, and subject to such conditions as are prescribed, by the Trustee Investments Act 2, in relation to investment of funds by a trustee.18. Annual estimates
19. Accounts and audit
20. Principal's report
The Principal shall, at the end of each financial year, prepare a report on the activities of the Institute during the financial year and submit such report to the Minister, through the Council.21. Annual statement of accounts to be laid before National Assembly
As soon as may be practicable after the receipt by the Minister of the statement of accounts together with the report thereon submitted pursuant to section 19(3); the Minister shall lay a copy of the same before the National Assembly.Part VII – Miscellaneous provisions (ss. 22-26)
22. Regulations
With the consent of the Minister the Council may make Regulations for the better carrying out of the purposes of this Act, and without prejudice to the generality of the foregoing may make regulations—23. Fees and allowances
The Council may issue directions prescribing fees and allowances payable to the members of the Council or of a Committee.24. Minister may give directions
The Minister may give the Council directions of a general or specific character and the Council shall give effect to every such direction.25. Proceedings of Council or Committee not to be invalid by reason of irregularity
No act or proceeding of the Council or Committee shall not be invalid by reason only of the number of members not being complete at the time of such act or proceedings or of any defect in the appointment of any member or of the fact that any member was at the time in question disqualified or disentitled to act as such.26. Protection of members of Council and Committees
History of this document
31 July 2002 this version
Consolidation
01 August 1990
Commenced