§ 7406. Limited permits and practice privilege. 1. Limited permits. On\nrecommendation of the board, the department may issue a limited permit\nto an applicant of good moral character, who is the holder of a\ncertificate, license or degree in a foreign country constituting a\nrecognized qualification for the performance in such country of the acts\nset forth in section seventy-four hundred one of this article, provided\nthe applicant has professional qualifications that are determined by the\nboard to be significantly comparable to the licensure requirements for\ncertified public accountancy pursuant to this article, and the applicant\nresides or has a place for the regular transaction of business within\nthe state, and equal recognition is granted by the foreign country\nconcerned to certified public accountants or public accountants licensed\nin the United States. Such limited permit shall be valid for a period of\ntwo years and may be renewed on recommendation of the board. Such permit\nshall authorize the applicant to use only the title or designation under\nwhich he or she is generally known in his or her own country, followed\nby the name of the country from which he or she received his or her\ncertificate, license or degree, notwithstanding the provisions of\nsubdivision two of section seventy-four hundred eight of this article.\nThe fee for each limited permit and each renewal shall be established in\nregulation by the board of regents.\n * 2. Practice privilege. a. Except as otherwise provided in\nsubparagraph two or three of paragraph f of this subdivision, a\ncertified public accountant, licensed by another state which the board\nof regents has determined to have substantially equivalent certified\npublic accountant licensure requirements, or whose individual licensure\nqualifications are verified by the department to be substantially\nequivalent to New York's requirements, and in good standing, who intends\nto perform any of the services in subdivision one, two or three of\nsection seventy-four hundred one of this article may practice public\naccountancy in this state, if the certified public accountant:\n (1) holds a valid license to practice public accountancy in the other\nstate, and\n (2) practices public accountancy in another state that is his or her\nprincipal place of business.\n b. The practice privilege allows such certified public accountant, who\nmeets the requirements of paragraph a of this subdivision to practice\npublic accountancy in this state.\n c. An individual who has been granted practice privileges under this\nsection who performs any of the services in subdivision one or two of\nsection seventy-four hundred one of this article may only do so through\na firm which has obtained a registration under section seventy-four\nhundred eight of this article. Such an individual, as well as an\nindividual with a New York license who does not have a principal place\nof business in New York, may provide services in subdivision three of\nsection seventy-four hundred one of this article through a firm of\ncertified public accountants that does not have a registration in this\nstate but that holds a valid license, registration, or permit in another\nstate.\n d. Any certified public accountant who practices in this state\npursuant to this section, and any firm that employs such certified\npublic accountant to provide such services in New York, consents to all\nof the following as a condition of the exercise of such practice\nprivilege:\n (1) to the personal and subject matter jurisdiction and disciplinary\nauthority of the board of regents as if the practice privilege is a\nlicense, and an individual with a practice privilege is a licensee;\n (2) to comply with this article, the rules of the board of regents and\nthe regulations of the commissioner; and\n (3) to the appointment of the secretary of state or other public\nofficial acceptable to the department, in the certified public\naccountant's state
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