s 8 Accounting standards
8.—(1) Accounting standards made or formulated by the Committee may be expressed to apply —(a) to all companies or specified classes or descriptions of companies; (b) to all co-operative societies registered under the Co‑operative Societies Act 1979 or specified classes or descriptions of such co-operative societies; (c) to all societies registered under the Societies Act 1966 or specified classes or descriptions of such societies; and (d) to all charities registered, and all institutions of a public character approved or deemed approved, under the Charities Act 1994 or specified classes or descriptions of such charities or institutions of a public character.[Act 36 of 2022 wef 01/04/2023] (2) Such accounting standards may be of general or specially limited application, and differ according to differences in time, place or circumstance. (3) The Committee may issue practice directions on the interpretation of the accounting standards made or formulated under this Part and on matters relating to them and their use in Singapore.[Act 36 of 2022 wef 01/04/2023] (4) An accounting standard made or formulated, or deemed to have been made or formulated, by the Accounting Standards Council under Part 3 of this Act as in force immediately before the date of commencement of section 22 of the Accountancy Functions (Consolidation) Act 2022, and which has not been revoked before that date, continues in force after that date as if made or formulated by the Committee under this Part after that date.[Act 36 of 2022 wef 01/04/2023] (5) Any practice direction issued, or deemed to have been issued, by the Accounting Standards Council under Part 3 of this Act as in force immediately before the date of commencement of section 22 of the Accountancy Functions (Consolidation) Act 2022, and which has not been revoked before that date, continues in force after that date as if issued by the Committee under this Part after that date.[Act 36 of 2022 wef 01/04/2023]