The Cost and Works Accountants Act, 1959

Professional Misconduct in Relation to Cost Accountants in Practice A cost accountant in practice shall be deemed to be guilty of professional misconduct, if he — (1) discloses information acquired in the course of his professional engagement to any person other than his client so engaging him, without the consent of his client, or otherwise than as …

The Second Schedule – The Cost and Works Accountants Act, 1959 Read More »

Professional Misconduct in Relation to Cost Accountants in Practice A cost accountant in practice shall be deemed to be guilty of professional misconduct, if he— (1) allows any person to practice in his name as a cost accountant unless such person is also a cost accountant in practice and is in partnership with or employed by him; (2) pays or allows …

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Rules, regulations and notifications to be laid before Parliament. Every rule and every regulation made and every notification issued under this Act shall be laid, as soon as may be after it is made or issued, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised …

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Power to make regulations (1) The Council may, by notification in the Gazette of India, make regulations for the purpose of carrying out the objects of this Act 1[***]. (2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:— (a) the standard and conduct …

Section 39 – The Cost and Works Accountants Act, 1959 Read More »

Power of Central Government to make rules. (1) The Central Government may, by notification, make rules to carry out the provisions of this Act. (2) In particular, and without prejudice to the generality of the foregoing powers, such rules may provide for all or any of the following matters, namely:— (a) the manner of election and …

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Reciprocity. (1) Where any country, specified by the Central Government in this behalf by notification in the Official Gazette, prevents persons of Indian domicile from becoming members of any institution similar to the Institute established under this Act or from practising the profession of cost accountancy or subjects them to unfair discrimination in that country, no subject of any such country …

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Maintenance of branch offices. (1) Where a cost accountant in practice or a firm of such cost accountants has more than one office in India, each one of such offices shall be in the separate charge of a member of the Institute : Provided that the Council may in suitable cases exempt any cost accountant in practice or firm of such cost accountants from the operation of …

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Members, etc., to be public servants. The Chairperson, Presiding Officer, members and other officers and employees of the Authority, Disciplinary Committee, Tribunal, Board, Board of Discipline or the Disciplinary Directorate shall be deemed to be public servants within the meaning of section 21 of the Indian Penal Code (45 of 1860).]   Amendment 1Inserted, by the Cost and Works Accountants …

Section 36A – The Cost and Works Accountants Act, 1959 Read More »

Protection of action taken in good faith. No suit, prosecution or other legal proceeding shall lie against the Central Government or the Council or the Authority or the Disciplinary Committee or the Tribunal or the Board or the Board of Discipline or the Disciplinary Directorate or any officer of that Government, Council, Authority, Disciplinary Committee, Tribunal, Board, Board of Discipline or the Disciplinary Directorate, for anything which is in good faith …

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Directions of the Central Government. (1) The Central Government may from time to time issue such directions to the Council as in the opinion of the Central Government are conducive to the fulfilment of the objects of this Act and in the discharge of its functions, the Council shall be bound to carry out any such directions. (2) Directions …

Section 35 – The Cost and Works Accountants Act, 1959 Read More »