Cost Accountants Act, 1959

Bare Act · 1959

An Act to make provision for the 1 [regulation and development of the profession of cost accountants].

Act number: 23 of 1959
Enacted: 19 May 1959
Contents: 59 sections · 10 chapters

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Contents

Chapter I — Preliminary

Chapter II — The Institute Of Cost Accountants

Chapter III — Council Of The Institute

Section 9 – Constitution of the Council of the Institute (preview)
Section 10 – Re-election or re-nomination to Council (preview)
Section 10A – Settlement of disputes regarding election (preview)
Section 10B – Establishment of Tribunal (preview)
Section 11 – Nomination in default of election (preview)
Section 12 – President and Vice-president (preview)
Section 13 – Resignation of membership and casual vacancies (preview)
Section 14 – Duration and dissolution of Council (preview)
Section 15 – Functions of the Council (preview)
Section 15A – Functions of Institute (preview)
Section 15B – Imparting education by Universities and other bodies (preview)
Section 16 – Officers and employees, salary, allowances, etc (preview)
Section 17 – Committees of the Council (preview)
Section 18 – Finances of the Council (preview)

Chapter IV — Register Of Members

Section 19 – Register of members (preview)
Section 20 – Removal from the Register of members (preview)

Chapter V — Misconduct

Section 21 – Disciplinary Directorate (preview)
Section 21A – Board of Discipline (preview)
Section 21B – Disciplinary Committee (preview)
Section 21C – Authority, Disciplinary Committee, Board of Discipline and Director (Discipline) to have powers of civil court (preview)
Section 21D – Transitional provisions (preview)
Section 22 – Professional or other misconduct defined (preview)
Section 22A – Constitution of Appellate Authority (preview)
Section 22B – Term of office of members of Authority (preview)
Section 22C – Procedure, etc., of Authority (preview)
Section 22D – Officers and other staff of Authority (preview)
Section 22E – Appeal to Authority (preview)

Chapter VI — Regional Council

Section 23 – Constitution and functions of Regional Councils (preview)

Chapter VII — Penalties

Section 24 – Penalty for falsely claiming to be a member, etc (preview)
Section 25 – Penalty for using name of the Council, awarding degrees of cost accountancy, etc (preview)
Section 26 – Companies not to engage in cost accountancy (preview)
Section 27 – Unqualified persons not to sign documents (preview)
Section 28 – Offences by companies (preview)
Section 29 – Sanction to prosecute (preview)

Chapter VIIA — Quality Review Board

Section 29A – Establishment of Quality Review Board (preview)
Section 29B – Functions of Board (preview)
Section 29C – Procedure of Board (preview)
Section 29D – Terms and conditions of service of Chairperson and members of Board and its expenditure (preview)

Chapter VIII — Disssolution Of The Institute Of Cost And Works Accountants Registered Under The

Chapter IX — Miscellaneous

Section 33 – Omitted (preview)
Section 34 – Alteration in the Register and cancellation of certificate (preview)
Section 35 – Directions of the Central Government (preview)
Section 36 – Protection of action taken in good faith (preview)
Section 36A – Members, etc., to be public servants (preview)
Section 37 – Maintenance of branch offices (preview)
Section 38 – Reciprocity (preview)
Section 38A – Power of Central Government to make rules (preview)
Section 39 – Power to make regulations (preview)
Section 40 – Rules, regulations and notifications to laid before Parliament (preview)