J. MILLARD TAWES, GOVERNOR                           1445

IN ONE OR MORE SCHOOLS, JUNIOR COLLEGES, COL-
LEGES, OR UNIVERSITIES RECOGNIZED BY THE BOARD
OR ACCREDITED BY A REGIONAL OR NATIONAL AC-
CREDITING AGENCY RECOGNIZED AS SUCH BY THE U. S.
OFFICE OF EDUCATION, PROVIDED THAT THE COURSE OF
STUDY IS DEEMED APPROPRIATE AND ADEQUATE BY THE
BOARD FOR THE PURPOSE OF AN ACCOUNTANCY EDUCA-
TION, AND COMPLETION OF AT LEAST TWO YEARS OF PRAC-
TICAL EXPERIENCE IN PUBLIC ACCOUNTING SATISFAC-
TORY TO THE BOARD.

(c)   The requirement for college education in subsection (b) (1)
of this section shall not apply to any person otherwise qualified
under Sections 2 (a) (1) to (4), inclusive, and subsection (a) (1)
of this section who prior to October 1, 15, 1962:

(1)   Shall have taken an examination under the laws of this State
then or formerly in effect, or whose application to take such exam-
ination shall have been accepted; or

(2)   Shall have graduated from or completed an accounting major
at a Board-recognized school or schools as provided in subsection
(a) (2) of this section, or was enrolled as a student in each school
for its professional training course in public accountancy, or for a
program of supplemental studies approved in writing on behalf of the
Board; provided that such graduate or other person applies to take
the examination by October 15, 1964, or such student completes his
course or program and applies to take the examination by October 15,
1967.

(d)   The requirements for graduation from a school of accountancy
and for college education in subsection (b) of this section shall not
apply to any otherwise qualified person who prior to October 15, 1962,
shall have had public accounting experience or combination of ex-
perience and institutional training sufficient to qualify him under the
alternative requirement in subsection (a) (8) of this section, or who
was then in process of obtaining such experience or combination;
provided that he meets the requirement and applies to take the ex-
amination by October 15, 1966.

(e)    In general, the applicable requirements under subsections
(a), (b) and (c) of this section shall be those in effect on the date of
the first examination for which the candidate applies; but the Board
may recognize exceptions to the general rule in order to prevent what
it may determine to be undue hardship to candidates resulting from
changes in the requirements as therein provided.

4.

(a)   The examination shall include theory of accounts, account-
ing practice, auditing, commercial law, principles of economics un-
less and until the Board otherwise orders, and such other related
or substituted subjects as the Board may deem to be appropriate. It
shall be held twice each year. Every candidate must meet the re-
quirements in Sections 2 (a) (1) to (4) inclusive, and the applicable
requirements in Section 3.

(b)  The passing mark shall be seventy-five per centum in each
subject. Every candidate shall be notified by mail of his marks, and