s 35F Revocation or suspension of registration by designated entity
35F.—(1) Subject to subsection (2), a designated entity may take any disciplinary or other action against, or impose any penalty on or make any other order against, any of its members registered with it as a chartered accountant that is provided in its membership rules. (2) A designated entity must not revoke or suspend the registration of any person as a chartered accountant except as provided under this section. (3) Subject to subsection (4), if, upon taking any disciplinary or other action provided in its membership rules against any member registered with it as a chartered accountant, the designated entity (or any body of persons specified in its membership rules as being responsible for making that assessment) is of the opinion that —(a) the member has contravened any code of professional conduct, standards or ethics applicable to chartered accountants under its membership rules; and (b) there exists cause of sufficient gravity for revoking the registration of the chartered accountant, the designated entity may revoke the member’s registration as a chartered accountant. (4) A designated entity may, instead of revoking the registration of a chartered accountant under subsection (3), suspend the registration for a period not exceeding 10 months.[Act 36 of 2022 wef 01/04/2023]