Meaning of “appropriate qualification”
34.—(1) A person holds an appropriate qualification for the purposes of this Part if—
(a)he was, by virtue of membership of a body recognised for the purposes of Article 397(1)(a) of the 1986 Order, qualified for appointment as auditor of a company under that Article immediately before 1st January 1990 and immediately before the coming into operation of Article 28,
(b)he holds a recognised professional qualification obtained in the United Kingdom, or
(c)he holds an approved overseas qualification and satisfies any additional educational requirements applicable in accordance with Article 36(4).
(2) A person who, immediately before 1st January 1990 and immediately before the coming into operation of Article 28, was qualified for appointment as auditor of a company under Article 397 of the 1986 Order otherwise than by virtue of membership of a body recognised for the purposes of Article 397(1)(a)—
(a)shall be treated as holding an appropriate qualification for 12 months from the day on which Article 28 comes into operation, and
(b)shall continue to be so treated if within that period he notifies the Department that he wishes to retain the benefit of his qualification.
The notice shall be in writing and shall contain such information as the Department may require.
(3) If a person fails to give such notice within the time allowed he may apply to the Department, giving such information as would have been required in connection with a notice, and the Department may, if it is satisfied—
(a)that there was good reason why the applicant did not give notice in time, and
(b)that the applicant genuinely intends to practise as an auditor in Northern Ireland,
direct that he shall be treated as holding an appropriate qualification for the purposes of this Part.
(4) A person who—
(a)began before 1st January 1990 a course of study or practical training leading to a professional qualification in accountancy offered by a body established in the United Kingdom, and
(b)obtained that qualification on or after that date and before 1st January 1996,
shall be treated as holding an appropriate qualification if the qualification is approved by the Department for the purposes of this paragraph.
(5) Approval shall not be given unless the Department is satisfied that the body concerned has or, as the case may be, had at the relevant time adequate arrangements to ensure that the qualification is, or was, awarded only to persons educated and trained to a standard equivalent to that required in the case of a recognised professional qualification.
(6) A person shall not be regarded as holding an appropriate qualification for the purposes of this Part except in the above cases.