—(1) The Registrar shall remove from the Register of Public Accountants the name and relevant particulars of any public accountant —
who has died;
who has become unfit to practise as a public accountant by reason of any physical or mental condition;
who has been adjudged a bankrupt;
who, without reasonable excuse, has failed to renew his certificate of registration after one month from the date of the expiry thereof;
who has applied to the Oversight Committee for his registration to be cancelled and whose application has been granted by the Oversight Committee.
(2) Subject to subsection (3), any person whose name has been removed from the Register under subsection (1)(d) may, if he desires to be reinstated in the Register, apply to the Registrar for reinstatement within 21 days of his being informed by the Registrar of the removal of his name from the Register, and the Registrar shall, upon payment of the prescribed fee by the applicant, reinstate the applicant to the Register.
(3) The Registrar shall not remove the name and relevant particulars of a public accountant from the Register of Public Accountants under subsection (1)(d) and the Oversight Committee shall not grant an application by a public accountant to cancel his registration under subsection (1)(f), if the Registrar or Oversight Committee, as the case may be, has received any complaint or information against the public accountant under Part VI, or if disciplinary proceedings under that Part are pending against the public accountant.
(4) The Oversight Committee may also cancel the registration of a public accountant and order the removal of his name and relevant particulars from the Register of Public Accountants if it is satisfied that —
the public accountant has obtained his registration by fraud or misrepresentation;
the public accountant has made any arrangement with his creditors;
the public accountant no longer satisfies any of the requirements prescribed under section 10(1)(b) by virtue of which he was registered under this Part;
for any reason, the public accountant has been censured by any professional accountancy body or organisation of which he is a member or with which he is registered, or has had his membership or registration with such body or organisation terminated or suspended; or
the public accountant is no longer in a position to discharge the duties of a public accountant effectively.
(5) The Oversight Committee shall, before exercising its powers under subsection (4), notify the public accountant concerned of its intention to take such action and shall give him an opportunity to submit reasons, within such period as the Oversight Committee may determine, as to why his registration should not be cancelled.
(6) Any public accountant who is aggrieved by an order under subsection (4) may, within 30 days of being notified of the order, appeal to the Minister whose decision shall be final.