ICTA RULES AND REGULATIONS No.

1/2006 2006

ARRANGEMENT OF SECTIONS

PART 1

PREMILIMINARY

SECTION

1. Short Title
2. Interpretation

PART 11

ESTABLISHMENT OF COUNCILS

3. Powers to establish councils.

4. Advisory Council
5. Executive Council
6. Examinations council
7. Standards and Surveillance Council
8. Consultative Committee
9. Disciplinary Committee

PART 111

ADMISSIONS INTO THE INSTITUTE

10. Student Membership

11. Technician Membership
12. Graduate Membership
13. Associate Membership
14. Fellow Membership
15. Honorary Membership
16. Honorary Associate Membership
17. Honorary Fellow Membership

PART 1V

MAINTAINANCE OF REGISTERS

18. Student Members Register

19. Technician Members Register
20. Graduate Members Register
21. Associate Members Register
22. Fellow Membership Register
23. Honorary Members Register
24. Honorary Associate Members Register

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

25. Honorary Fellow Members Register

PART V

EXEMPTIONS FROM THE INSTITUTE’S EXAMINATIONS

26. Holders of certain qualifications

PART V1

DISCIPLINE

27. Rules of professional conduct

28. Disciplinary action
29. Appeal against disciplinary action

PART V11

GENERAL

30. Employees of the institute

31. Examinations of the institute
32. Admission of members
33. Membership certificates
34. Payment of annual subscriptions
35. Use of certain designations
36. Disqualification as a member
37. Restoration as a member
38. Registration of private colleges and other tuition providers
39. Disputes
40. Meetings and Minutes
41. Secretary
42. Funds of the institute
43. Financial Year of the institute

FIRST SCHEDULE

Powers of the Executive Council

SECOND SCHEDULE

Establishment of the Advisory Council

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

PART 1

PRELIMINARY

1. Short Title

These Rules and Regulations may be cited as the Institute of Certified Tax Accounts
Rules and Regulations No. 1/2006.

2. Interpretation

Advisory Council means a council of founder members or any other members that may
be appointed from time to time but shall include the President, Vice President and the
Chief Executive Officer as a minimum composition.

Certified Tax Accountant means a person registered in terms of these Rules and
Regulations.

Company means a private company, public company, sole trader, partnership, private
business corporation, club society, institution or any other entity that employs
personnel or is carting our a business in any part of Zimbabwe.

Executive Council means a council of duly elected members of the institute with
functional roles.

Institute means the Institute of Certified Tax Accountants.

President means the President of the Institute of Certified Tax Accountants in Zimbabwe
or elsewhere.

3. Executive Council

1.1. Subject to this section, the following persons shall for the time-being,
constituent members for the purposes of these Rules and Regulations : -

a) President
b) Vice-President
c) Chief Executive Officer

1.2. The President may, on recommendation of the Executive Council, in writing:-

a) Increase the membership of the Executive Council subject to the limitation

imposed by any of the regulations.
b) Decrease the membership of the Executive Council of the Executive Council
subject to the limitations by any of the regulations.
c) The executive council shall be comprised of not more than 8 members at
any given time. Its composition shall in future be as follows: -

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

1) President
2) Vice-President
3) Chief Executive Officer
4) Finance Director
5) Administration Director
6) Examinations Director
7) Marketing & Publicity Director
8) Director of Studies

d) Functions of the Executive Council

The Executive Council shall be headed by the President appointed in terms

of these rules and regulations. Such President shall possess executive
powers and his main duty shall be giving and maintaining the vision of the
institute and in carrying out this vast responsibility, he shall be assisted by
the Executive Council members in their respective areas of responsibilities.

1. Strategic and policy formulation of standards

2. Establishment and formulation of standards
3. Marketing the Institute globally
4. Monitoring of examinations
5. Developing of curricula and designing of syllabuses

e) Admission into the Executive Council

Admission into the Executive Councils shall be made in terms of the rules
and regulations as contained herein in addition to any member constituting
the Advisory Council.

1) APPOINTMENT OF THE PRESIDENT

The President of the Institute shall be the Chairperson of the Executive

Council during the first five (5) years and may be extended by a further
term. He shall be an executive officer of the council. In order for a
person to qualify as the President of the Institute, he shall be: -

a) A founder member of the institute and shall have contributed

immensely to the establishment of the institute; or by election at
any elective meeting of the advisory Council.

b) Of not less than 30 years of age; and

c) A fellow member of the institute qualified in terms of the provisions

of these rules and regulations of the institute.

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

d) A fellow or associate member of a recognized professional institute

or association recognized in Zimbabwe by way of study and
excluding the institute’s course.

Provided that no-one shall be appointed as the President of the

Institute unless he has served as an executive council member for a
continuous period of not less than 2 years.

1. All the retired Presidents of the Institute shall be entitled to

a monthly salary through-out their lifetime at a rate that
shall be determined by the Advisory Council; provided that
they are still members of the Consultative Committee
otherwise a pension equal to their accumulated gross salary
shall be paid on retirement.

2. The President shall be elected annually by the Advisory

Council members and the term of office of the first
President shall be five (5) years. Any second or subsequent
president shall require a simply majority vote in order to
win the elections. Votes shall be conducted by show of
hands at the AGM of the Institute. Proxies shall not be
entitled to vote for the Presidential elections. In the event
of any casual vacancy in the office of the President, the Vice
President shall fill in such vacancy until the President is
elected. Such elections shall be conducted at a conclusion of
a six months period or during the next AGM whichever is
nearer.

3. The first President of the Institute shall be empowered to

appoint all other first members of the Executive Council
once the institute becomes operational and thereafter, it
shall be in terms of the respective rules of appointment of
such persons.

2) APPOINTMENT OF THE VICE PRESIDENT

1. He shall be a fellow member; or

2. He shall be an existing executive council member or a former

council member; and

3. He shall be of not less than 30 years of age.

i. His tenure of office shall be office 5 years and may

be extended by a further term. Like President, he
shall possess executive powers in the
administration of the institute. In terms of

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

engagement letter, he shall be entitled to all the

rights and privileges, which the Advisory Council
may approve in a meeting, called for such purpose.

His appointment shall be determined by votes of

the Advisory Council members and may be removed
from such office before his tenure of office from
such office if the Advisory Council passes a vote of
no confidence in him and the President grants such
leave.

3) APPOINTMENT OF THE CHIEF EXECUTIVE OFFICER

1) He shall be a fellow member or a person who has served as an

administrator of the Institute during its inception period and
contributed significantly to the operations of the institute, and;

2) He shall have served as an Executive Council member,

Examinations Council member or a member of the Advisory
Council, and;

3) He shall be of not less than 35 years of years, or;

4) He shall be in possession of at least a first degree in a business

field of study.
1. His tenure of office shall be 5 years unless otherwise
extended by a solution of the advisory Council.
2. His terms and conditions of employment shall be
resolved in writing by the President in consultation with
the Vice- President and the Advisory Council.

4) APPOINTMENT OF THE FINANCE DIRECTOR

1) Any person can be appointed as a Finance Director if he a

member of the Institute at associate or Felloe Status.
2) He shall be not less than 30 years of age.

3) His tenure of office shall be determined by the President or the

Advisory council and thereafter, it shall be up to the Executive
Council to determine his conditions of service. He may be
removed from office if 90% of the Executive Council members
vote in favour of his removal at any time.

5) APPOINTMENT OF THE ADMINISTRATION DIRECTOR

1) He shall be a former administrator of the institute or a person

appointed by the President in consultation with the Executive
Council and the Advisory Council.

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2) He shall have a proven work experience at senior management

level.

3) He shall not be less than 40 years of years.

His tenure of office shall be one year unless extended by the

President or by a simple majority vote of the executive council

6) APPONINTMENT OF THE EXAMINATIONS DIRECTOR

1) He shall be a certified tax accountant, doctor, professor,

chartered accountant, chartered secretary, chartered
management accountant or a head of department at an
institution of higher learning in a related field and has the
relevant and appropriate experience.

2) He shall have a proven working g experience at a senior

management level.

3) He shall not be of not less than 30 years of age.

His tenure of office shall be five years and may be extended by a

vote of confidence of the executive council members.

7) APPOINTMENT OF THE MARKETING AND PUBLICITY DIRECTOR

1) He shall possess a qualification either in marketing or public

relations

2) He shall have a proven working experience at a senior

management level.

3) He shall be of not less than 30 years of age.

4) His duties and responsibilities shall be laid down by the

President of the Institute in consultation with the Executive
Council

5) His tenure of office shall depend on output and production of

desired achievements.

8) APPOINTMENT OF THE DIRECTOR OF STUDIES

1) He shall be a former Head of Department or Senior Lecturer at a

University or a recognized higher learning centre and such
person shall not be of less than 30 years of age; provided no-
one shall be appointed if he is not a member of the Institute.

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

2) His duties and responsibilities shall be laid down by the Chief

Executive Officer in consultation with the Examinations Director
and the President of the Institute.
3) His tenure of office shall be as laid down in the letter of
appointment signed by the President of the Institute.

PART 11

ESTABLISHMENT OF OTHER COUNCILS

4. Powers to establish other councils

The Advisory Council shall have the powers and mandate to institute and establish such
other councils, which shall be charged with various duties and responsibilities.

5. Examinations Council

There shall be Examinations shall be examinations Councils, which shall be headed by

the Director of Studies and Examinations.

6. Functions of the Examinations Council

Article 1. Subject to these Rules and Regulations, the functions of

the Council shall be –

a) Designing the course structure for the institute

in line with the standards required by the Public
Accountants and Auditors Board established in
terms of the Public Accountants and Auditors
Act [Chapter 27:12]

b) Maintenance of Standards of examinations of

the institute and keeping them in line with the

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

terms and terms and conditions of the Public

Accountants and Auditors Act [Chapter 27:12]

c) Maintenance of the Examinations

Register

d) Producing academic transcripts.

e) Organizing examination centers

f) To evaluate examinations and training courses

of other bodies with a view to grant
exemptions.

g) Setting of examinations and ensuring that such

examinations are in line with the institute’s
syllabus and standards.

h) Selection of examiners and markers.

i) Dispatch and release of examination results.

Article 11. The council shall inform the Executive Council before
communicating any information with the outside world.

7. Consultative Committee

There shall be a Consultative headed by the Director of Studies and Examinations whose
membership shall be drawn from the various stakeholders and its membership shall not
exceed 10 members, but excluding any number comprised of the retired members of
the Executive Council and shall be instituted as follows: -

a) Director of studies
b) A Representative from the Zimbabwe Revenue Authority
c) A Representative from accredited colleges
d) A representative from the Advisory Council
e) A representative from the Private Sector

This Council shall be the think tank and source of new ideas for the institute on all
crucial members. Other duties of this committee shall be delivered by the Executive
Council

8. Standards and Surveillance Council

This council shall be responsible for maintaining, keeping, monitoring, establishing and
formulation of acceptable standards and best practices expected to be displayed by the
tax accountant in delivering his duties and responsibilities of this council: -

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

1) Developing Tax Accounting Standards (TAS) at National and International level.

2) Institute boards of inquiry on the conduct and behaviour of unethical students

and practitioners.

3) Vetting of all members before admission to professional grades.

4) Monitoring the quality of tuition offered by private and public colleges.

5) Supervision of all registered tax accounting firm and other related practitioners.

Its composition shall be as follows: -

a) First President or Chairperson of the Institute

b) Chief Executive officer or Retired former Chief Executive Officer of the
Institute
c) Administration Director
d) Director of Studies
e) A representative from the Zimbabwe Revenue Authority

PART 111

ADMISSION INTO THE INSTITUTE

9. Student Membership

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

1) In order for one to be admitted as a student of the institute, he shall be required to

in possession of 5 Ordinary Level passes including English Language and
Mathematics or Principles of Accounts and excluding, Bible knowledge, Agriculture,
Fashion and Fabrics, Food and Nutrition and Art.

2) In addition to the provisions of subsection (1) referred above, the applicant shall
also be required to be in possession of at least 2 Advanced Level passes.

3) Where the applicant has failed to comply with the provisions of subsection (1) and
(2) of this section, he shall be of 25 years of age and hold 5 Ordinary level passes,
which shall include English Language and at least one numerate subject.

4) The Foundation for Business Studies Diploma shall be a complete and acceptable
qualification for entry purposes required in terms of subsection (1), (2) or (3)
referred above.

10. Graduate Membership

1) No-one shall be allowed to describe himself as a graduate member unless: -

a) He holds a Graduate Diploma conferred by the Institute upon completion of

Part E of the Institute’s examinations.

b) He holds the relevant work experience of not less than one year.

c) He has applied for this grade on the appropriate from and on payment of
the prescribed fee and has been issued with the relevant certificate to that
effect.

2) The Institute may at its discretion and without assigning ant reason refuse to
accept any application made in terms of subsection (1).

3) No graduate member shall be entitled to vote on the Institute’s Annual General

Meeting.

11. Associate membership

1) No-one shall be admitted as an associate member unless:-

a) he holds the institute’s diploma conferred at Part D of the Institute’s

examinations; and

b) He has work experience of not less than five years; and

c) He has applied for this grade on the appropriate form and on payment of
the appropriate fee and has been issued with a certificate to that effect; or

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

d) He is founder member of the Institute and has relevant tax and accounting
experience of not less than five years; or

e) The Advisory Council has made a resolution that ant person who is a
practicing expect and of good standing upon application in the prescribed
way be a member of the institute; provided any such resolution is made not
later than 31st December 2006; or the election of the Executive Council
whichever comes first; and such member holds an equivalent qualification
and related work experience of not less than five years.

2) The institute may at its discretion and without assigning any reason refuse to
accept any application made in terms of subsection (1).

3) Associate members shall be entitled to vote and participate on the institute’s

meetings.

12. Fellow Membership

1. No-one shall be allowed into this membership grade unless –

a) He has been an associate member for a continuous period of not less

than five years; and

b) He has relevant work experience of not less than fifteen years; and

c) He has applied for this membership grade on the appropriate for and
has paid the prescribed fee; or

d) The applicant is founder member of the institute and holds an associate

membership or a full membership status conferred onto him by a
Zimbabwean or South African institute of accounting, administration or
commerce and the major subject was either financial accounting or cost
and management accounting; or

e) He is founder member of the institute on or before 28 th January 2006

and has experience of not less than five years; and has attained at least
a position of an accountant for a period of not less than one year.

f) The Advisory Council has made a resolution that any person who is
already a practicing tax expert and is of good public standing, upon
application in the prescribed way be a member of the Institute;
provided such a resolution is made not later than 31 st December 2006
and such member holds and equivalent qualification conferred by any
on of the constituent bodies of the Public Accountants and AUDITORS
Act [Zimbabwe Laws] at Associate and fellow Membership and has been
practicing as a tax consultant or expert for a continuous period of not
less than ten years.

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2 The Institute may at its discretion and without assigning any reason refuse to
accept an application made in terms of subsection (10. All members at this
grade shall be entitled to receive notices of meetings and vote on the institute’s
meetings.

13. Honorary Membership

1. The Institute may at its discretion honor any person who is of good reputation
and social standing to be an honorary member.

2. No honorary member shall be entitled to participate in the meetings and

proceedings of the institute unless he is a founder member.

PART IV

MAINTENANCE OF REGISTERS

14. Every Member to be on register

1) The Secretary shall enter every member of the Institute on the appropriate part
of the register shall be called the register of members and such names of
members shall be supplied to the secretary by the Advisory Council.

2) The register of members shall be divided into five parts and the five parts shall
be known as the Student Register, Graduate Register, Associate Register, Fellow
Register and Honorary Register.

4) The Secretary shall, subject to any directions of the Advisory Council, record, on
the appropriate part of the register –

a) The name and such other particulars and may be prescribed of each
person whom the Advisory Council has directed shall be registered, and

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

b) Particulars of the cancellation or suspension of any person’s

registration, and of the restoration of any such cancelled registration or
the termination of any such suspension; and

c) Any necessary corrections or alterations to any particulars or facts

referred to in paragraph (a) or (b); and

d) Any other particulars that may be prescribed or that the advisory

Council may determine.

PARTS V

EXEMPTIONS FROM THE INSTITUTE’S EXAMINATIONS

15. Holders of certain qualifications

1) The Institute may on a subject basis grant exemptions to holders of certain

recognized professional qualifications provided the maximum number shall not
exceed ten; and

a) An exemption fee shall be p[aid within a prescribed period; and

b) The qualification was granted by the constituent body referred under

section 3 (1) of the Public Accountants AND Auditors act [Chapter
27:12]; and

c) The qualification was granted not more tan ten years in the case the
student members of the bodies referred to in paragraph (b).

2) The Institute may at discretion and after due consideration of the syllabuses of
other bodies, institutions, associations or university colleges grant certain
exemptions subject to the limitations imposed by subsection (1).

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

PART VI

DISCIPLINE

16. Rules of professional conduct

1 Every member of the Institute entered on any of the registers required to be kept
and maintained in terms of Section 14 shall be required to –

a) Be a person of integrity

b) Exercise professionalism and sound judgment when carrying out a

professional undertaking.

c) Be a competent person in terns of section 10, 11 and 12 and no other

person shall be allowed to carry out work of a public nature except where –

1 He is employed exclusively at a salary; or

2 He is working under the supervision of a person qualified in terms

of Section 10, 11 and 12.

d) Be an independent person who can avoid assignments with some conflicting

interests.

2 Every member in breach of subsection (1) shall be brought before a competent

tribunal establishment in terms of Section 8.

17. Disciplinary Action

1) Any member in breach of the institute’s rules of professional conduct shall be

a) Suspended by the Institute; or

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

b) Expelled from the Institute; or

c) Have his membership certificates and other certificates withdrawn by the

Institute.

18. Appeal against disciplinary action

1) Any Member found guilty in terms of Section 17 shall be -

a) Required to appeal to the Executive Council within 30 days

from the date of the judgment; and

b) Required to lodge the appeal in writing; and

c) Required to sate the basis of his appeal

2) The Executive Council shall set a date within 14 days of receiving the appeal and
within the same time frame, inform the appellant of the –

a) Trial venue

b) Date of trial

c) Time of trial

3) Nothing in these Rules and Regulations shall prevent a person facing disciplinary
action from seeking legal advice from being represented by a legal practitioner or by
a fellow of the Institute.

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

PART V11

GENERAL

19. Employees of the Institute

1) Nothing in these Rules and Regulation shall prevent any employee of the
institute from receiving a salary, allowance, benefit and a pension upon
termination of employment, by resignation or retirement. The Regulations
contained in the Labour Relations Act shall be deemed to be incorporated in
these Rules and Regulations except where they are expressly excluded.

2) No-one in the employment of the Institute shall be required to write or sit for
the professional examinations of the Institute until such time when he is no
longer an employee of the institute; or such employee has applied in writing to
the Executive Council for consideration.

3) The Chief Executive Officer shall be responsible fore recruitment and selection
of the institute’s employees as well as their supervision. He may at his discretion
delegate some of his human resources duties and responsibilities to any other
officer of the institute.

20. Examinations of the Institute

1) The examinations of the Institute shall be written in May and November of each
year. Students may re-write failed subjects in July and January of each year. The
President through the Examinations Council may vary the above examination
dates for a good cause

2) No student shall be allowed to proceed to the next level of study unless he has
completed all the subjects at the lower level.

3) The entire core Subjects at a Part of Subjects should be passed at a one sitting
and all the core subjects shall be written at on sitting.

4) Where an examination, a student scores a mark on a core subject that 35%, the
concerned student shall required to re-sit all the subjects at that level.

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

5) A mark level 35%on a non-core subject shall cause all subjects to be under-taken
at that level of study.

6) The maximum duration to complete examinations of the institute shall be eight

(8) hours.

7) The decision of the examiner is final and accordingly the institute shall not
entertain any complaints regarding re-marking of an examination paper.

8) There shall be an examination moderator for every subject appointed to

monitor and assess the standard and fairness in the setting and marking of the
examination paper.

21. Membership Certificates

1) Subject to the provision of Section 9, 10, 11, and 12 of these Rules and
Regulations, every person admitted by the institute shall be –

a) Given a receipt upon payment of the prescribed fee.

b) Entered on the appropriate part of the Register required to be kept in terms

of Section 14; or

c) Allowed to participate in the Examinations of the Institute; or

d) Allowed to enjoy all the rights and privileges conferred to him in respect of
his payment subject to ant limitations imposed by these Rules and
Regulations.

22. Membership Certificates

1) Members admitted in terms in terms of Section 10, 11 and 12 or 14 shall be

entitled to receive a membership certificate pertaining to the appropriate grade.

2) Membership certificates shall always remain the property of the Institute

4) A membership certificate shall be withdrawn if the member’s subscriptions are

in arrears and the Chief Executive Officer shall direct the secretary to –

a) Cancel membership of such person on the register and direct the

respective member to surrender his certificate.

b) Publish the names of all such persons who are no longer members of
the Institute.

23. Payment of annual subscriptions

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 ICTA RULES AND REGULATIONS No. 1/2006 2006

1) Every member of the institute with the exemption of honorary and founder
member shall renew his or her membership on an annual basis

2) Whereas default is made in terns of subsection (1), such member shall cease to
be a member of the institute and the Chief Executive Officer may direct the
secretary in terms of section 22 (3).

24. Use of Certain designations

1) A graduate member shall be entitled to use the designation “Graduate Member of

the Institute of Certified Tax Accountants” or the initials “Grad.ICTA”.

2) An associate member shall be entitled to use the designation “Associate member of

the Institute of Certified Tax Accountants” or the initials “AICTA”

3) A fellow member shall be entitled to use the designation “Fellow Member of the
Institute of Certified Tax Accountants” or the initials “FICTA”

4) An honorary member shall be entitled to use the designation; Honorary Member of

the Institute of Certified Tax Accountants” or the initials “MICTA”.

5) No person shall describe himself as a Certified Tax Accountants unless such person is
qualified in terns of Section 10, 11, or 12 and is not an honorary member.

25. Disqualification of a member

1) A person shall cease to be a member of the Institute if he has not complied with
Section 23 (1) or is facing disciplinary action in terms of Section 17; or if he is in
breach of the rules of professional conduct in respect of Section 16.
2) A person shall not be qualified to be a member of the Institute it –

a) He has been adjudged or otherwise declared insolvent or bankrupt in

terms of a law in force in any country, and has not been rehabilitated or
discharged; or

b) He has made an assignment to or arrangement or composition with his

creditors in terms of law in force in any country, and the assignment,
arrangement or composition has not been rescinded or set aside; or

c) Within the period of five years immediately preceding his application for
registration –

1. He has been convicted inside or outside Zimbabwe of a

criminal offence which in the opinion of the Executive Council,
is of a disgraceful of dishonorable nature.

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2. He have behaved in a manner which, in the opinion of the

Executive Council, is of disgraceful and dishonorable nature;
or

d) He has been certified either or outside Zimbabwe to be mentally

disordered or defective or of unsound in terms of the Mental Health Act
[Chapter 15:06] or an equivalent law in a foreign country, and the
certification remains in force.

3) Before disqualifying any member in terms of any of the grounds referred above, the
Executive Council shall inform such member of its intension to cancel his
membership and afford him a chance to make his representations in the matter.

26. Restoration as a member

1) Every person whose membership has been cancelled shall be restored to the
register if a court has restored his contractual capacity; or

2) The appeal of the member has been successful

27. Registration of Private Colleges and Other Tuition Providers

No private college or any other tuition provide shall be allowed to offer the ICTA course
without having registered with the ICTA Board on a prescribed upon payment of a
prescribed fee. Ant tuition offered by an unregistered tuition provider shall constitute
an offence under these Rules and Regulations and the tuition provider and any person
or officer of the unregistered tuition provider be guilty of an offense.

28. Disputes

1. In the event of any disputes amongst members of the Institute, such disputes
shall be resolved by a simply majority vote of the members present who are
entitled to vote in terms of the Rules and Regulations of the Institute; and

a) In the event of a deadlock at a meeting of the Executive Council, the

decision of the Advisory Council shall prevail

b) Where a deadlock has been reached at the Annual General Meeting of

the Institute, the decision of the Advisory Council shall prevail and as a
last resort, of the founding President or the Most Senior Founding
Member (s)

2. In the event of a dispute pertaining to a matter of policy or any other matter

that is not provided or incorporated in any of the Institute’s regulations, The
advisory Council shall sit and resolve the matter; and

a) Where a deadlock has been reached by the Advisory Council, the decision of
the First and Founder President shall prevail and in the event of the First

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and Founder President being not present for any reason, the decision of the
most senior member of the Advisory Council shall prevail provided no
meeting of the Advisory Council shall take place unless the Board is properly
constituted and such meeting shall be convened by a 7 day’s notice or by
any shorter time as the constituent members may agree.

b) Every decision of the advisory council shall be deemed to be incorporated

into the Rules and Regulations of the Institute and shall be used as a
reference in the future by any other Lower Councils without ant variation
except by a properly constituted of the Advisory Council. The same
principles pertaining to the resolving of disputes shall apply mutatis
mutandis to any other disputes where a deadlock has been reached.

29. Meetings and Minutes

a) The Institute shall cause minutes of all proceedings and decisions taken at all
meetings of the councils and of its committees to be entered in the books kept
for the purpose.

b) No proceeding or decision shall be taken unless a quorum of members is

present which shall be five in respect of the Executive Council and two in the
case of the Advisory Council and in any other case including any other councils
and committees, three members present in person shall constitute quorum
provided:-

i. No meeting of the Executive Council shall proceed unless a

notice of seven days has been given to members.
ii. No meeting of the Advisory Council shall proceed unless a
notice of three days has been given to members.
iii. No meeting of any other council or committee shall proceed
unless a notice of fourteen days has been given to members.

c) Any minutes referred to in subsection (a) which purport to be signed by the

Chairman of the meeting to which the minutes relate or by the Chairman of the
next following meeting of the Institute or of the Council or Committee
concerned, as the case may be, shall be accepted for all purposes as prima facie
evidence of the proceedings of and decisions taken at the meeting concerned.

30. Secretary

The Institute shall appoint a secretary and such members of staff as will enable the
Institute to carry out its functions and mandate.

31. Funds of the Institute

The funds of the Institute shall consist of –

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a) Fees paid for registration, exemption, examinations and membership

subscriptions.

b) Moneys paid by sponsoring bodies and the donor community.

c) Any other moneys to which the Institute may become entitled, whether by way
of fees, gifts, loans or otherwise.

32. Financial year of the Institute

The financial year of the Institute shall be the period of twelve months ending on the
30th June in each year or on such other date may be prescribed.

FIRST SCHEDULE

POWERS OF THE EXECUTIVE COUNCIL

1. To appoint council members and fix their allowances.

2. To convene all meetings from time to time.

3. To purchase, hire or otherwise acquire immovable property and to construct buildings.

4. To appoint any other officers with the exception of the Chief Executive Officer, Finance
Director and the Vice President, shall be appointed by the President through the powers
conferred to him under these Rules and Regulations subject to the limitations of the
constitution of the Institute.

5. To raise or borrow money in such manner as the Executive Council thinks fit.

6. To invest, in such manner and on such security, if any, as the Executive Council may
determine, any of its funds, which are not immediately required, and to vary or realize
any investments so made.

7. To institute, establish and dissolve any council in place and to assign council powers and
add, reduce or amend such powers as the Executive Council may deem fit to the
attainment of the institute’s objectives as set out in its constitution.

8. To appoint auditors to verify the books and records of the institute.

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9. To cause the production of audited financial statements on an annual basis or any other
time but not more than one year.

10. To fix the remuneration of auditors and its public accountants.

11. To promote any legislation which is to the advantage of the institute and its objects.

12. To amend and make any other rules and regulations of the institute.

13. To fix examination fees, admission fees, exemption fees, annual subscription fees and
any other fees that may be paid from time to time.

SECOND SCHEDULE

ESTABLISHMENT OF THE ADVISORY COUNCIL

1. There shall be a council to be known as the Advisory Council. This body is the supreme
council of the institute and shall have all executive powers. It shall be comprised of not
more than four members of which three quarters of it shall be the founder members
namely Tamuka Maziriri, Blessing Cromwell Nyabeze and Elison Munyaka; who shall
hold the portifolios of President, Vice President and Chief Executive Officer respectively
and thereafter shall be life members of this council after leaving their portfolios as
aforementioned

2. The majority of the members shall be of the fellow grade of the Institute and the first
President by virtue of being the Executive Director and founder member shall be a
permanent member of this council; and

3. The Advisory Council shall be the trustees of the institute and shall have general control
of the Institute’s assets and shall strive to attain the objectives for which the institute is
established. The Advisory Council shall have all such powers to enable them to
administer the institute and; without limiting their general powers in any way they shall
also have the following specific powers –

a) To apply the capital and income of the institute in furthering the objectives
as set out in the Memorandum document

b) To deposit all moneys, not invested by them in a banking account to be

opened in the name of the INSTITUTE OF CERTIFIED TAX ACCOUNTANTS or
in any registered Building Society. Such accounts may be operated by the
Advisory Council in such a manner as they may determine.

c) To cause a proper set of books and accounts to be kept relative to the

affairs of the Institute, which books and accounts shall be audited annually

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by an Auditor to be appointed by the Executive Council, and shall have

power to vary this appointment from time to time.

d) To be entitled and are hereby empowered to invest the assets of the

Institute in so far as the same are not required for the immediate purposes
of carrying out the objects of the Institute.

e) To pay all expenses incurred in connection with the administration of the

Institute.

f) To advance and lend money to any institution for the furtherance of the
institute’s objectives.

g) To employ any person to manage or assist in the management of any of the

objectives of the institute and to remunerate such employee from funds
administered by the institute, including traveling and other expenses duly
approved by the Advisory Council which may necessary be incurred by such
employee.

h) To appoint an agent or agents to represent them for any specific purpose,

including the power to employ accountants, legal practitioners and other
professional persons for any specific purpose and to remunerate such
persons at the usual professional or business rates.

i) To take action in a court of law for the recovery of any amounts due to the
institute or to compel the fulfillment of its obligations in its favour and to
defend any proceedings that may be instituted against the institute.

j) To purchase or otherwise acquire any equivalent or any asset that may be

necessary for the promotion of the objects of the institute.

k) To open and control any bank accounts or Building Society accounts.

l) To frame rules, standing orders and regulations and the administration of

the institute in the conduct of its affairs and to alter, vary or rescind the
same from time to time as well as the vetting and admission of members.

m) To delegate such powers as appropriate to an elected Executive Council to

enable the day running of the business on an annual basis and ratify all
resolutions of the Executive Council.

Conditions of Appointment

The Advisory Councilors are hereby appointed to the following terms and conditions –

1. No remuneration whatsoever, other than necessary out-of-pocket expenses shall be payable

to the councilors for their services in terms hereof, which services shall be as charitable
services on the part of the councilors.

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2. The officer of the Advisory Council shall be vacated –

i. If a councilor resigned from office by notice in writing addressed to the

Secretary or President of the institute, or

ii. If he becomes disqualified in terms of the Rules and Regulations

3. Should any difference arise among the Councilors in regard to the affairs of the institute, the
same shall be determined by a majority vote of the Councilors taken at a meeting the
Councilors convened in not less than 48 hours notice.

4. With the approval of the remaining Councilors, a Councilor may appoint an alternate to
represent him during a period of temporary absence from Zimbabwe.

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