Ingenieur Vol. 64 Oct-Dec 2015 Ingenieur Vol 64 Oct-Dec 2015 | Page 74

INGENIEUR BOARD OF ENGINEERS (BEM) Registered Persons Graduate Engineer Engineering Technologist Professional Engineer Sit and pass the Professional Assessment Examination (PAE) Professional Engineer with Practising Certificate Inspector of Works Sit and pass the Professional Competency Examination (PCE) Figure 15 – Route to be a P.E. with Practising Certificate enough for BEM to revamp the REA to meet the Government’s policies on liberalisation. The amended Act has removed all such restrictions for any foreign professional engineer to practice in Malaysia independently. Although there are many proponents of “doom and gloom” on this issue, so far BEM has not obtained any economic arguments against it. BEM has therefore forged ahead with these amendments. In a nutshell the requirements of citizenship for registration with BEM have been deleted. Body corporates are allowed to offer up to a maximum of 30% equity to anybody or persons and will pave the way for Engineering Consultancy Practice to be listed on the Stock Exchange. As mentioned in Section 4.0 the major revisions to Sections 7, 8 and 10 of the REA include the introduction of new categories of registration as shown in Figure 14. A copy of the amended Act may be obtained from BEM. By prescribing the equity and composition of the Board of Directors in the Regulations (as shown in Figure 14), it allows the flexibility 6 72 VOL – DECEMBER 2015 VOL64 55OCTOBER JUNE 2013 for the Government to undertake progressive liberalisation without the need to amend the REA through Parliament. A new category of engineer has been introduced the Professional Engineer (P.E.) with Practising Certificate which will be discussed further in this paper. The relaxation of equity requirements will simulate the inflow of capital and investment to an Engineering Consultancy Practice (ECP) from other sources such as financial institutions. This also allows ECPs to list their shares on the Kuala Lumpur Stock Exchange whereby the basic requirements for listing is a minimum of 25% shall be offered to the public. Apart from allowing an ECP to offer their shares to another body or individual, three new categories of registration are included in the new amendments; the Professional Engineer with Practising Certificate, the Engineering Technologist and the Inspector of Works as shown in Figure 15. Recognizing the need to strengthen the REA in view of liberalisation, BEM has introduced a “licensing scheme” whereby the “Submitting