(1) Subject to section 190, a person shall not be qualified for appointment as a public auditor unless -
(i) he is a member of a body of accountants for the time being recognised by the Supervisory Authority for the purposes of this section and holds a valid practising certificate from such a body, or
(ii) he holds an accountancy qualification that is, in the opinion of the Supervisory Authority, of a standard which is not less than that required for such membership as aforesaid and which would entitle him to be granted a practising certificate by that body if he were a member of it, and is for the time being authorised by the Supervisory Authority to be so appointed, or
(iii) he was, on the 31st day of December, 1990, a member of a body of accountants for the time being recognised under section 162(1)(a) of the Principal Act, and holds a valid practising certificate from such a body or
(iv) he was authorised by the Minister before the 3rd day of February, 1983, and is for the