Section 3
SEC. 3. Section eleven of Act Numbered Thirty-one hundred and five, as amended by Act Numbered Thirty-two hundred and sixty-four, is further amended so as to read as follows: "SEC. 11. The Board may waive the examination of any person of competent age, of good moral character, and who is the lawful holder of a certified public accountant certificate, or other similar certificate, issued under Act Numbered Thirty-two hundred and sixty-four or under the law of any state or territory of the United States, of the District of Columbia, or of any foreign country, or who holds a certificate as a chartered accountant, or other similar certificate, provided such state or territory of the United States or District of Columbia, or the country in which such certificate as chartered accountant, or other similar certificate, is issued, extends similar privileges to certified public accountants of the Philippine Islands."