The Cost and Works Accountants Act, 1959

Settlement of disputes regarding election. In case of any dispute regarding any election under clause (a) of sub-section (2) of section 9, the aggrieved person may make an application within thirty days from the date of declaration of the result of election to the Secretary of the Institute, who shall forward the same to the Central Government. …

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Re-election or re-nomination to Council. A member of the Council, elected or nominated under sub-section (2) of section 9, shall be eligible for re-election or as the case may be, re-nomination: Provided that no member shall hold the office for more than two consecutive terms: Provided further that a member of the Council, who is or has been …

Section 10 – The Cost and Works Accountants Act, 1959 Read More »

Constitution of the Council of Institute (1) There shall be a Council of the Institute for the management of the affairs of the Institute and for discharging the functions assigned to it by or under this Act. 1[(2) The Council shall be composed of the following persons, namely:— (a) not more than fifteen persons elected by the members of the Institute, from amongst the fellows of …

Section 9 – The Cost and Works Accountants Act, 1959 Read More »

Disabilities. Notwithstanding anything contained in section 4, a person shall not be entitled to have his name entered in, or borne on, the Register if he— (i) has not attained the age of twenty-one years at the time of his application for the entry of his name in the Register; or (ii) is of unsound mind and stands so adjudged by …

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Members to be known as cost accountants. Every member of the Institute in practice shall, and any other member may, use the designation of a cost accountant and no member using such designation shall use any other description, whether in addition thereto or in substitution therefor : Provided that nothing in this section shall be deemed to prohibit any …

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Certificate of practice. (1) No member of the Institute shall be entitled to practise, whether in India or elsewhere, unless he has obtained from the Council a certificate of practice. 1[(2) Every such member shall make an application in such form, and pay such annual fee, for his certificate as may be determined, by notification, by the Council, which shall not …

Section 6 – The Cost and Works Accountants Act, 1959 Read More »

Fellows and Associates. (1) The members of the Institute shall be divided into two classes designated respectively as associates and fellows. (2) Any person other than a person to whom the provisions of sub-section (3) apply shall, on his name being entered in the Register, be deemed to have become an associate member of the Institute and so long as his name remains so entered, …

Section 5 – The Cost and Works Accountants Act, 1959 Read More »

Entry of names in the Register (1) Any of the following persons shall be entitled to have his name entered in the Register, namely :— (i) any person who was an associate or a fellow of the dissolved company (other than an honorary associate or honorary fellow thereof) immediately before the commencement of this Act, except any such person who is not a permanent resident of …

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Definitions and interpretation (1) In this Act, unless the context Otherwise requires,— (a) “associate” means an associate member of the Institute; 1[(aa) “Authority” means the Appellate Authority referred to in section 22A; (aaa) “Board” means the Quality Review Board constituted under section 29A;] (b) “cost accountant” means a person who is a member of the Institute; (c) “Council” means …

Section 2 – The Cost and Works Accountants Act, 1959 Read More »

Preliminary 1. Short title, extent and commencement. (1) This Act may be called the Cost and Works Accountants Act, 1959. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.***   Amendment ***23-5-1959 Practice area’s of B K …

Section 1 – The Cost and Works Accountants Act, 1959 Read More »