SectionsParticulars
Chapter IPreliminary 1959
1Short title, extent and commencement
(1) This Act may be called the Cost and Works Accountants Act, . (2) It extends to the whole of India. (3) It shall come into force on such date as the Centra...
2Definitions and interpretation
(1) In this Act, unless the context otherwise requires- (a) "associate" means an associate member of the Institute; (b) "cost accountant" means a person who ...
Chapter IIThe Institute of Cost and Works Accountants
3Incorporation of the Institute
(1) All persons whose names are entered in the Register at the commencement of this Act and all persons who may hereafter have their names entered in the Regi...
4Entry 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 d...
5Fellows 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 who...
6Certificate of practice
(1) No member of the Institute shall be entitled to practice, whether in India or elsewhere, unless he has obtained from the Council a certificate of practice...
7Members 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...
8Disabilities
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 atta...
Chapter IIICouncil of the Institute
9Constitution 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 ...
10Mode of election to Council
(1) Elections under clause (a) of sub-section (2) of section 9 shall be conducted in the prescribed manner: that the first election under the said clause shal...
11Nomination in default of election
If the members of the Institute fail to elect any member under clause (a) of sub-section (2) of section 9 from any of the regional constituencies that may be ...
12President and Vice-President
(1) The Council at its first meeting shall elect two of its members to be respectively the President and the Vice-President thereof, and so often as the offic...
13Resignation of membership and casual vacancies
(1) Any member of the Council may at any time resign his membership by writing under his hand addressed to the President, and the seat of such member shall be...
14Duration and dissolution of Council
(1) The duration of any Council constituted under this Act shall be three years from the date of its first meeting. (2) Notwithstanding the expiration of the ...
15Functions of the Council
 (1) The duty of carrying out of the provisions of this Act shall be vested in the Council. (2) In particular, and without prejudice to the generality of the ...
16Staff remuneration and allowances
(1) For the efficient performance of its duties, the Council, may- (a) appoint a Secretary who may also, if so decided by the Council, act as Treasurer; (b) a...
17Committees of the Council
(1) The Council shall constitute from amongst its members the following Standing Committees, namely,- (i) an Executive Committee; (ii) a Disciplinary Committ...
18Finances of the Council
(1) There shall be established a fund under the management and control of the Council into which shall be paid all moneys received by the Council and out of w...
Chapter IVRegister of Members
19Register
(1) The Council shall maintain in the prescribed manner a Register of the members of the Institute. (2) The Register shall include the following particulars a...
20Removal from the Register
(1) The Council may remove from the Register the name of any member of the Institute,- (a) who is dead; or (b) from whom a request has been received to that e...
Chapter VMisconduct
21Procedure in inquiries relating to misconduct of members of Institute
(1) Where on receipt of information by, or a complaint made to it, the Council is prima facie of opinion that any member of the Institute has been guilty of a...
22Misconduct defined
For the purposes of this Act, the expression "professional misconduct" shall be deemed to include any act or omission specified in any of the Schedules, but n...
Chapter VIRegional Councils
23Constitution and functions of Regional Councils
(1) For the purpose of advising and assisting on matters concerning its functions, the Council may constitute such Regional Councils as and when it deems fit ...
Chapter VIIPenalties
24Penalty for falsely claiming to be a member, etc.
Any person who- (i) not being a member of the Institute- (a) represents that he is a member of the Institute; or (b) uses the designation, cost accountant; or...
25Penalty for using name of the Council, awarding degrees of cost accountancy, etc.
(1) Save as otherwise provided in this Act, no person shall- (i) use a name or a common seal which is identical with the name or the common seal of the Insti...
26Companies not to engage in cost accountancy
(1) No company, whether incorporated in India or elsewhere, shall practice as cost accountants. (2) Any contravention of the provisions of sub-section (1) sha...
27Unqualified persons, not to sign documents
(1) No person other than a member of the Institute shall sign any document on behalf of a cost accountant in practice or a firm of such cost accountants in hi...
28Offences by companies
(1) If the person committing an offence under this Act is a company, the company as well as every person in charge of, and responsible to, the company for the...
29Sanction to prosecute
No person shall be prosecuted under this Act except on a complaint made by or under the order of the Council or of the Central Government....
Chapter VIIIDissolution of The Institute of Cost and Works Accountants Registered under the Companies Act, 1956 (1 Of 1956)
30Dissolution of the Institute of Cost and Works Accountants registered under the Companies Act, 1956
On the commencement of this Act- (a) the company known as the Institute of Cost and Work Accountants registered under the Companies Act, 1956 (1 of 1956), sha...
31Transfer of assets and liabilities of the dissolved company to the Institute
(1) On the commencement of this Act, there shall be transferred to and vested in the Institute all the assets and liabilities of the dissolved company. (2) Th...
32Provisions respecting employees of the dissolved company
(1) Every person employed in the dissolved company prior to the lst day of September, 1958, and still in its employment immediately before the commencement of...
Chapter IXMiscellaneous
33Appeals
(1) Any member of the Institute aggrieved by any order of the Council imposing on him any of the penalties referred to in clause (a) or clause (b) of sub-sect...
34Alteration in Register and cancellation of certificate
(1) Where an order is made under this Act reprimanding a member a record of the punishment shall be entered against his name in the Register. (2) Where the na...
35Directions 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 fulfill...
36Protection of action taken in good faith
No suit, prosecution or other legal proceeding shall lie against the Central Government or the Council in respect of anything which is in good faith done or i...
37Maintenance 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 separat...
38Reciprocity
(1) Where any country, specified by the Central Government in this behalf by notification in the Official Gazette, prevents persons of Indian domicile from be...
39Power 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, and a copy of such reg...
Schedule I
Part IProfessional 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 account...
Part IIProfessional Misconduct In Relation To Members Of The Institute In Service
A member of the Institute (other than a member in practice) shall be deemed to be guilty of professional misconduct, if he being an employee of any company, f...
Part IIIProfessional Misconduct In Relation To Members Of The Institute Generally
A member of the Institute whether in practice or not shall be deemed to be guilty of professional misconduct, if he- (1) includes in any statement, return or ...
Schedule II
Part IProfessional Misconduct In Relation To Cost Accountants In Practice Requiring Action By A High Court
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 professi...
Part IIProfessional Misconduct In Relation To Members Of The Institute Generally Requiring Action By A High Court
A member of the Institute, whether in practice or not, shall be deemed to be guilty of professional misconduct, if he- (1) contravenes any of the provisions of...
Cost And Works Accountants Regulations, 1959
Chapter IPreliminary
1Short title
The Regulations may be called by the Cost and Works Accountants Regulations, 1959. ...
2Definitions
In these Regulations, unless the context otherwise requires,- (a) 'Act' means the Cost and Works Accountants Act, 1959; (b) 'Annual Meeting' means the first m...
Chapter IIMembers of the Institute
3Register
The Register of Members of the institute shall be in Form 'A'...
4Qualification for Members
Subject to the provisions of sections 4 and 8, no person shall be entitled to have his name entered in the register unless he- (a) has passed the examinations ...
5Qualifications for fellowship
For purposes of sub-section (4) of section 5 an Associate who, for a continuous period of not less than five years immediately before the date of his applicat...
6Application for membership
(1) Every person who desires to have his name entered in the register, and any associate who desires to be admitted as a fellow, shall submit an application, ...
7Fees
(1) Every person applying for membership of the institute shall pay an entrance fee of Rs. 300: that an applicant may pay Rs. 100 along with his application a...
8Refund of fees
Every person whose application for admission to the membership of the Institute or whose application for a Certificate of Practice is not accepted by the Coun...
9Certificate of Membership
(1) If the application is accepted by the Council, the applicant's name shall be entered in the Register and a Certificate of Membership in Form 'C' shall be ...
10Certificate of Practice
(1) A member of the Institute may apply to the Council for a Certificate entitling him to practice as a Cost Accountant throughout India. Every application fo...
11Cancellation of Certificate of Practice
(1) A certificate of practice shall be cancelled- (a) when the name of the holder of the certificate is removed from the Register of Members, or (b) when the ...
Chapter IIIComplaints and Enquiries
12Complaints and enquiries relating to misconduct of members
(1) Subject to the provisions of this Regulation, all complaints against members of the Institute under Section 21 shall be investigated, and all enquiries re...
13Information relating to misconduct of members
The procedure prescribed by Regulation 12 shall, so far as may be, apply to any information received under section 21. ...
14Procedure in any enquiry before the Disciplinary Committee
(1) It shall be the duty of the Secretary to place before the Disciplinary Committee all facts brought to his knowledge which are relevant for the purpose of ...
15Report of the Disciplinary Committee
(1) The Disciplinary Committee shall submit its report to the Council. (2) The Council shall consider the report of the Disciplinary Committee and if in its o...
15AProcedure in hearing before the Council
(1) If the Council, on recording a finding, as required under sub-section (3) of section 21, is of the opinion that there is a case for passing one of the ord...
16Notification of removal
The removal of the name of any person from the membership of the Institute shall be notified in the Gazette of India and shall also be communicated in writing...
17Restoration of Membership
The Council may on application made to it in Form 'H' by a person whose name has been removed from the Register of Members of the Institute or of the dissolve...
18Notification of restoration
The restoration of a name to the membership shall be notified in the Gazette of India and shall also be communicated in writing to the person concerned. ...
Chapter IVRegistered Students
19Eligibility to take Examinations
Admission to the Intermediate and Final Examinations of the Institute shall be restricted to Registered Students, who shall be required to undergo such theore...
20Conditions of Registration
Every person applying for registration as a Registered Student shall be required to apply in Form I and produce evidence to the satisfaction of the Council t...
20AAdmission to the Foundation Course Examination
Every person applying for admission to the Foundation Course Examination shall be required to apply in the form prescribed by the Council for the purpose and ...
20BFee, papers and syllabus for Foundation Course
No candidate shall be admitted to Foundation Course Examination unless he applies in the prescribed form along with a fee of Rupees One Hundred and Twenty-fiv...
20CFoundation Course Examination
(1) A candidate shall be declared to have passed in the Foundation Course Examination if he obtains at one sitting a minimum of 40 per cent of the total marks...
21Registration Fee
Every person applying for registration shall pay the student registration fee of Rs. 170. ...
22Refund of fees
Every candidate whose application for registration is not accepted by the Council shall be entitled to a refund of Student Registration fee. [Regulations 23 a...
23-23ARegulations 23 and 23A omitted by Notification No. CWR (1) / 88, dated 31-1-1989
24Position of Registered Students
Student registration shall not confer any membership rights nor entitle a person so registered to claim any form of membership of the institute or of a Region...
25Time limit for Examinations and Cancellation of Registration
(1) A Registered Student will normally be required to complete the Intermediate and Final Examinations of the Institute within a period of seven years from th...
25ARegistration de novo
A person whose registration has been cancelled under regulation 25 may apply in Form I along with the required fee to become a Registered Student de novo and...
26Examination rules
Registered Students shall be required to comply with the rules relating to the examinations which are in force at the time of applying for admission to or app...
27Suspension and cancellation of Registration
In the event of any misconduct or breach of any Regulation by any Registered Student, the Council may, if it is satisfied, after such investigation as it may ...
28Termination of Registration
The registration of a student shall terminate after he has passed the qualifying examinations of the Institute. ...
28ACoaching Administration and Training
(1) The Council may arrange for imparting training to Registered Students and for this purpose established and operate a Coaching Administration, makes rules,...
Chapter IVAGraduates
28BGrad. CWA
(1) A person who has passed the qualifying examinations of the Institute may, before he is admitted as an Associate Member, apply to the Council for being enr...
Chapter VQualifying Examinations
29Who can become a member of the Institute
Except as otherwise provided for in the Act or these Regulations, every person wishing to qualify himself for membership of the Institute shall be required to...
Intermediate Examination
30Admission to and fees for Intermediate Examination
(1) No candidate shall be admitted to the Intermediate Examination unless he is a Registered Student of the Institute and has paid all his dues at least sixt...
31Stages, Papers and Syllabus for the Intermediate Examination under the revised syllabus
(1) The first Intermediate Examination under the revised syllabus after the commencement of Cost and Works Accountants (Amendment) Regulations, 1993 shall be...
32Exemption from the subjects for appearing in Intermediate Examination
(1) In the case of candidates registered as students on or after lst July, 1994, the Council shall decide the individual subjects from which exemption may be...
32AExemptions
(1) A candidate who is registered as a student before 1st July, 1984, and who has passed, (a) the Intermediate Examination of the Institute of Chartered Accou...
33Admission to and fees for Final Examination
(1) No candidate shall be admitted to the Final Examination unless he is a Registered Student and has passed the Intermediate Examination of the Institute or...
34Groups, Papers and Syllabus for the Financial Examination under the Revised Syllabus
(1) The First Final Examination under the revised syllabus after the commencement of the Cost and Works Accountants (Amendment) Regulations, 1993 shall be he...
35Exemption from the subjects for appearing in Final Examination
(1) In the case of candidates registered as students on or after lst July, 1994, the Council shall decide from time to time, the individual subjects from whi...
35AExemptions
(1) A candidate who is registered as a student prior to lst July,1984, and who has passed, (a) the Intermediate Examination of the Institute of Chartered Acc...
36Conduct of Examinations
(1) The examinations shall be conducted in such manner and at such times and places as the Council may direct: that the qualifying examinations shall be held ...
37Application for admission of Examination
Application for admission to an examination shall be made in the prescribed form, copy of which may be obtained from the secretary. Every such application tog...
38Refund of fees
(1) The fee paid by, a candidate who has been admitted to an examination, shall not, except as otherwise provided in sub-regulation (2), be refunded. (2) Wher...
39Candidates to be supplied with Admission Cards
An Admission Card stating the place, dates at which the candidate will be required to present himself for examination shall be sent to each candidate at the a...
41Examination results
(1) A candidates shall be declared to have passed in an Examination if he has passed in all the Stages or Groups (under the old syllabus) comprised in that e...
42Disciplinary action against candidates resorting to unfair means
If a candidate is found to have resorted to or attempts to resort to unfair means pertaining to any examination, the Council may on receipt of a report to tha...
43Examiners
The Examination Committee shall maintain a list of approved examiners, from which the examiners will be appointed for a particular examination to set up quest...
44 style=color: blue; text-decoration: underline; text-underline: single">Practical Training
(1) A person who has passed the examinations prescribed in this Chapter or the examinations recognized as equivalent thereto shall not be eligible for members...
Chapter VIPost Graduate Training
45Training for Members
The Council may impart or arrange to impart practical and/or theoretical training through lectures, seminars, summer camps and factory visits and the like, in...
Management Accountancy Examination
46Scheme of Management Accountancy Examination
(1) The Management Accountancy Examination shall comprise two Parts, viz., Part I and Part II and a candidate shall be deemed to have passed the Management Ac...
47Admission to Part I of Management Accountancy Examination and Admission fee
(1) No candidate shall be admitted to Part I of the Management Accountancy Examination unless a minimum period of one year has elapsed between the date of his...
48Papers and Syllabus for Part I of Management Accountancy Examination
Candidates for Part I of the Management Accountancy Examination shall be examined in the following groups and subjects. Management Accountancy (One Paper: 3 ho...
49Declaration of Results
(1) A list of successful candidates in Part I of the Management Accountancy Examination shall be published in the Journal of the Institute in such manner as t...
50Thesis and Viva-Voce
(1) Candidate who has passed Part I of the Management Accountancy Examination shall submit a Thesis on a subject to be approved by the Examination Committee. ...
51Examination Certificate and qualifying letters
Every candidate passing the examination under this Chapter shall be awarded a Certificate to the effect in Form J and shall be entitled to use the letters "DI...
Chapter VIIElections
52Dates of election
The following dates relating to the election of members to the Council, namely, the last date for the receipt of nominations, the last date for the withdrawal...
53Members eligible to vote
(1) Every member of the Institute shall be entitled to vote in any election to the Council by the constituency to which according to his professional address ...
54Qualifications of members to stand for election
6[(1)] Only Fellows whose names are contained in the list of voters published under Regulation 56 and who are eligible to vote at the election, shall be eligi...
55Number of members to be elected
(1) The number of members to be elected from each regional constituency shall be one member for such number of members in the constituency as may be determin...
56List of Voters
(1) At least three months before the date fixed for commencement of counting of votes in an election, the Secretary shall prepare- (a) a list of members of Ins...
57Nomination of candidates
(1) Every nomination of a candidate shall be in Form K duly signed by the Candidate and by the proposer and seconder, both of whom shall be persons entitled t...
58Withdrawal of candidature
Any candidate may withdraw his candidature by notice in writing addressed to the Secretary by name and by registered post so as to reach him before 3 O'clo...
59Security of nominations
(1) The Secretary shall scrutinise the nomination papers of all candidates other than those whose candidature has been withdrawn under Regulation 58 and shall...
60Appeal
(1) A candidate whose nomination has been refused or rejected by the Secretary, or a candidate who is of the opinion, and holds evidence to establish, that a ...
61List of valid nominations
(1) On completion of the scrutiny of nominations as provided under Regulation 59, the Secretary shall forthwith prepare a list of valid nominations for the co...
62Candidates deemed to be elected if their number is equal to or less than the number of persons to be elected
If the number of candidates validly nominated in any constituency is equal, or becomes, by reason of the death or cessation of membership of one or more candi...
63Admissible number of votes to each voter
Each voter shall have one vote only. A voter in giving his vote- (a) must place on his ballot paper the figure l in the square opposite the number of the cand...
63AMode of elections
Except as otherwise provided, the elections shall be conducted by poll and every vote in any election, shall cast his vote personally in the booth provided fo...
63BPolling booths
The Secretary shall set up such number of polling booths at such places as he deems necessary, provided that, within an area covered by a radius of eight kilo...
63CPolling officer
The Secretary shall appoint a polling officer for each polling booth and may also appoint such other persons as he may deem necessary to assist the polling of...
63DSecret chamber and ballot paper
(1) There shall be a secret chamber or chambers in each polling booth and such chamber shall be so arranged that where a voter records his votes on the ballot...
63EPresence of candidates at polling booths
Any candidate for election in a constituency shall be entitled to be present at the pooling booths in that constituency and to appoint not more than two membe...
63FVoting to be in person and not by proxy
Voting shall be by ballot and every person entitled to record his vote by ballot and wishing to record his vote, shall do so in person and not by proxy. ...
63GIdentification of voters
(1) The polling officer may employ at the polling booth such persons as he thinks fit to assist him in identifying the voters or for any other purpose. (2) At...
63HRecord to be kept by polling officer
(1) The polling officer shall at the time of delivery of the ballot paper place against the name of the voter in the list of members eligible to vote a mark t...
63IManner of recording of votes after receipt of ballot paper
On receiving the ballot paper the voter shall forthwith proceed into the Secret chamber set apart for the purpose and shall record his votes on the ballot pap...
63JReturn of ballot paper by a voter
(1) If a voter after obtaining a ballot paper for the purpose of recording his votes decides not to use the same, he shall return the ballot paper to the poll...
63KHours of polling
(1) Every polling booth shall be kept open on the day or days appointed for recording of votes from 8.30 hours to 18.30 hours. (2) If the polling at any pollin...
63LTransport of ballot papers and their custody
The Secretary and the polling officers shall make adequate arrangements for safe custody of the ballot papers and for safe transport to the headquarters of th...
63MVoting by members employed on duty at polling booth
The polling officer, the persons appointed by the Secretary to assist the polling officer, or the authorized representatives referred to in Regulation 63E, wh...
63NEligibility to vote by post
Every member whose name is included in the list of members eligible to vote published under the provisions of sub-regulation (1) of Regulation 56 and whose na...
64Eligibility to vote by poll by a voter entitled to vote by post
A voter entitled to vote by post under Regulation 63N may however be allowed by the Secretary to vote by poll at any particular polling booth to be specified ...
65Ballot papers to be sent by post
At least 21 days before the date for starting of counting of votes, the Secretary shall send by registered post to the address of voter entitled to vote by po...
65ABallot papers to be returned after recording votes thereon
Every voter on receiving his ballot papers sent under Regulation 65 shall, if he desires to vote at the election, record his votes thereon in the manner speci...
65BIssue of undelivered and fresh ballot papers
When a ballot paper and other connected papers sent by post under Regulation 65 are lost or damaged in transit or for any reason returned undelivered, the Sec...
65CGrounds for declaring ballot papers invalid
A ballot paper shall be invalid if- (a) a voter signs his name or writes any word or figures or makes any marks on it by which the ballot paper becomes recogni...
66Definitions
In this Chapter, unless there is anything repugnant in the subject or context- (a) 'continuing candidate' means any candidate not elected and not excluded fro...
66AAppointment of time for counting of votes
The Secretary shall appoint the time for counting of votes on each date at the headquarters of the Institute and shall give notice of such time in writing to ...
67Counting of votes
(1) On the date at the time and place appointed under Regulation 66A, the Secretary shall for purposes of counting of votes in respect of a constituency- (a) ...
68APresence for candidate at the time of counting votes
Any candidate for election shall be entitled to be present in person or to appoint a member of the Institute as a representative to be present on his behalf a...
69Notification of the declaration of results
The names of all candidates declared elected shall be notified by the Council in the Journal of the Institute. ...
69ASaving
(1) The decision of the Secretary shall be final in all matters not only in regard to the application of any of the provisions of he Regulations contained in ...
70Disciplinary action against member in connection with conduct of elections
A member of the Institute shall be liable for disciplinary action by the Council if he adopts one or more of the following practices with regard to the electi...
70ADispute regarding election
(1) On receipt of an application under sub-section (2) of section 10 of the Act, the President shall refer the matter to the Tribunal within thirty days of...
Chapter VIIIMeetings and Proceedings of the Council
71Meetings of the Council
The Council shall meet at least once in every six months at such time and place as the President may determine. ...
72Notice of Council meeting
Notice of the time and place of an intended meeting shall be sent to the registered address of every member of the Council not less than twenty-one days befor...
73Special meetings of Council
A special meeting of the Council may, at any time, be called by the President or in his absence by the Vice-President, or at the request in writing addressed ...
73APostponement of meetings
Any meeting of the Council, which is called to be held on a particular date or dates, may be postponed by the President to a subsequent date or dates, if in h...
74Chairman of Council
At all meetings of the Council, the President, or in his absence the Vice-President, shall be the Chairman, or, in the absence of both, the Chairman shall be ...
75Quorum at meeting
(1) One-third of the total number of members of the Council shall constitute the quorum for a meeting. (2) If, at the time appointed for a meeting, a quorum is...
76Passing of resolution at meeting
At all meetings of the Council, in the event of a difference of opinion, the vote of the majority shall prevail unless otherwise required by the Act or these ...
77Adjournment of meeting of Council
Subject to the Provisions of these Regulations, the Chairman of any meeting of the Council may, with the consent of the meetings, adjourn the meeting from tim...
78Record of minutes
Minutes shall be kept of all resolutions and proceedings of the meetings of the Council, which shall be approved by the members and signed by the Chairman of ...
79Passing of resolution by circulation
(1) The President may, in emergent cases, circulate papers among the members of the Council for decision of any question: that, where four members of the Counc...
Chapter IXStanding and other Committees
80Time and place of meeting
(1) The Chairman of a Committee may at any time and shall, on written requisition of any two members of the Committee, call a meeting of the Committee. (2) Th...
81Quorum
(1) No business shall be transacted at a meeting of a Committee unless there are present at least three members in the case of the Executive Committee, and tw...
82Procedure for transaction of business
(1) The business of a Committee shall ordinarily be transacted at meeting of the Committee, provided that the Chairman may in emergent cases circulate papers ...
83Casting vote
All questions before a Committee shall be decided by a majority of votes. In the event of equality of votes, the Chairman shall have a casting vote. ...
84Minutes
(1) The Secretary of the Council shall be the Secretary for each Committee, unless the Council otherwise directs. (2) The Secretary shall maintain a record of ...
85Executive Committee
The Executive Committee shall perform the following functions, namely:- (a) maintenance of the office of the Council and for this purpose the Executive Commit...
86Examination Committee
(1) The Examination Committee shall exercise all the functions of the Council in regard to holdings of the examinations, admissions thereto, appointment and s...
87Training and Educational Facilities Committee
The Training and Educational Facilities Committee shall perform the following functions, namely:- (a) Registration of students. (b) Maintenance of the Register...
87AProfessional Development Committee
The Professional Development Committee shall perform the following functions, namely: (1) Maintaining contacts with the various departments of the Central and...
87BResearch and Publications Committee
The Research and Publications Committee shall perform the following functions, namely:- (1) Carrying out research work on costing and allied subjects and givi...
87CJournal Committee
The Journal Committee shall be responsible for the publication of the Journal which shall be the official organ the Institute and for the maintenance of its p...
88Council's power of review not affected
Nothing in this Chapter shall affect the power of the Council to review any decision of any Standing or other Committee. ...
Chapter XMiscellaneous
89Location of the office of the Council
The headquarters of the Council shall be located at Calcutta. ...
90Administration of the Institute
The Council shall be in charge of the administration of the Institute and the Regional Councils. ...
91Custody of Common Seal
The Common Seal of the Institute shall be in the custody of the Secretary. ...
92Affixing of Common Seal
All instruments on which the Common Seal is required to be affixed by or under any law shall be so affixed and countersigned by the Secretary. ...
93Maintenance of accounts
It shall be the duty of the Secretary to maintain or cause to be maintained proper accounts of the receipts and expenditure of the Institute. ...
94Audit of accounts
The Council, not less than two months before the date of each Annual Meeting, shall deliver to the auditors the accounts of the last year and the auditors sha...
95Appointment of auditors
The. auditors shall be elected at the Annual Meeting of the Council from among candidates who have been duly nominated by two members of the council; each suc...
96Auditors
The Council shall determine the remuneration, if any to be paid to the auditors elected at the Annual Meeting. In the event of any vacancy occurring in the of...
97Retirement of auditors
The auditors shall retire at the Annual Meeting of the Council next after the meeting at which they were elected, but shall be eligible for re-election. ...
98Powers and duties of the President and Vice-President
The President shall exercise such powers and perform such duties as are conferred or imposed on him by the Act or these regulations, or as may be delegated to...
99Powers and duties of the Secretary
Subject to the general supervision of the President and the Committee concerned, the Secretary shall exercise and perform, in addition to the powers and dutie...
100Indemnity from losses and expenses
The members of the Council, the auditors, the Secretary and other Officers of the Council shall be indemnified by the Institute against all losses and expense...
101Method of payment of fees
All fees prescribed under these Regulations shall be made payable to the Secretary in such manner as the Council may direct: that, until other direction is giv...
102Issue of Duplicate Certificates
(1) In the event of the loss by the holder of a Certificate in any of the Forms 'C', 'E', 'F' and 'J', the Council may, on application made in this behalf, du...
103Proof of service of notice
All notices required by the Act or these Regulations to be given to members shall be forwarded by post to such address as may last have been registered with t...
104Publication of list of members
In publishing the list of members under sub-section (3) of section 19, the Council may indicate in such manner as it thinks fit the associates and fellows who...
105Members to supply information
For the purpose of publication of the list referred to in Regulation 104, the Council may require the members to supply any information regarding present addr...
106Branch office
Every Cost Accountant in practice or a firm of such Cost Accountants maintaining more than one office at the commencement of the Act shall send within three m...
107Offices not in charge of members
Where a Cost Accountant in practice or a firm of such Cost Accountants has any office in India at the commencement of the Act which is not in separate charge ...
108Prior approval of the Council to use own name or trade name or firm name
(1) Every Cost Accountant in practice in his own name or trade name and every firm of such Cost Accountants shall, before commencement of practice or formatio...
109Particulars of Nationality
Every member of the Institute shall submit to the Council particulars regarding his nationality and shall also intimate to the Council any subsequent change i...
110Place of business in India
It shall be obligatory on a member of the Institute to have a place of business in India in his own charge or in charge of another member of the Institute. Pa...
111Cost Accountants in practice not to engage in any other business or occupation
A Cost Accountant in practice shall not engage in any business or occupation other than the profession of accountancy unless it is permitted by a general or s...
111AOther functions of a Cost Accountant in practice
Without prejudice to the discretion vested in the Council in this behalf a Cost Accountant in practice may act as a Trustee, Executor, Administrator, Arbitrat...
1129[***]
113Constitution or reconstitution of firms to require 10[***] approval
(1) After the commencement of the Act, no firm of Cost Accountants shall be constituted or reconstituted except with the previous approval of the 11[Council]....
Chapter XIRegional Councils
114Constitution of Regional Councils
(1) The Central Council may by notification in the Journal of the Institute, constitute a Regional Council for any region, which shall be known by such name a...
115Regional Register of Members
(1) Every Regional Council shall maintain a Regional Register of Members in which shall be entered the names and other particulars of all the members of the I...
116Functions of the Regional Councils
(1) The Regional Councils shall advise and assist the Central Council in carrying out provisions of the Act. (2) In particular, the Regional Councils may: (i) ...
117Election of the Regional Council
(1) Every member of a Regional Constituency shall be entitled to vote in, and stand for, any election to the Regional Council of the Region to which according...
118Conduct of elections
The elections to the Regional Councils shall be held by the Central Council and the Regulations in Chapter VII relating to elections to the Central Council sh...
119Disputes regarding election
Where any dispute arises regarding any election to any of the Regional Councils, the matter shall be referred within thirty days from the date of election to ...
120Vacancies
(1) A member of a Regional Council may at any time resign his membership by writing under his hand addressed to the Chairman of the Regional Council and the s...
121Duration of Regional Council
(1) The duration of a Regional Council shall be three years from the date of constitution of the Regional Council which shall be specified by the Central Coun...
122Officers of the Regional Council
(1) Every Regional Council at its first meeting after its first constitution and in subsequent years at the first meeting of the Regional Council after the An...
123Chief Executive authority
The Chairman of a Regional Council shall be the Chief Executive Authority of the Regional Council. ...
124Functions of Secretary of the Regional Council
The Secretary of the Regional Council shall be responsible for the performance of general duties of the office of the Regional Council under the guidance of t...
125Continuance in office
On the expiration of the duration of a Regional Council, the Chairman, Secretary and Treasurer for the time being, shall discharge the duties and functions of...
126Other staff
For the purpose of carrying out its functions, a Regional Council may appoint such staff and servants for its office as it may from time to time consider nece...
127Committees of the Regional Council
(1) The Regional Council at a meeting shall constitute a Students’ Facilities Committee and such other Committees as the Central Council may direct and may co...
128Chairman of Committee
A Regional Council shall elect a member of the Committee to be the Chairman of the Committee: that in the case of any Committee constituted at the direction o...
129Term of Office
Every member of a Committee shall hold office until the first meeting of the Regional Council after the Annual General Meeting of the Regional Constituency, b...
130Meetings
The provisions regarding meetings of the Committees of the Central Council in Regulations 80 to 84 shall, so far as may be, apply to the meetings of the Commi...
131Finances and Accounts of the regional council
(1) No regional council shall borrow money without the prior approval of the Central Council. (2) In addition to any grants-in-aid that the Central Council ma...
132Expenditure from fund
The funds of a Regional Council shall be employed for such purposes as may from time to time be sanctioned by the Regional Council: that no funds thereof shall...
133Audit
The accounts of a Regional Council shall be audited every year by a Chartered Accountant in practice or a firm of such Chartered Accountants appointed by the ...
134Audit report
A copy of the audited accounts and the report of the Regional Council as adopted by the Annual General Meeting shall be sent to the Central Council not later ...
135Meetings of the Regional Councils
The provisions of Chapter VIII shall apply to the meetings of the Regional Councils, mutatis mutandis, except that a notice of not less than ten days shall be...
136Annual General Meetings of the members of Regional Constituencies
(1) A Regional Council shall convene on or before 31st July of every year an Annual General Meeting of the Regional Constituency. (2) The business at an Annual...
137Extraordinary General meetings
(1) A Regional Council may, as often as it considers necessary, and shall on requisition made in writing by at least 20 per cent of the total number of member...
138Notice of meeting
At least 14 days' notice of every general meeting specifying the date, place and hour of such meeting and in case of special business, the general nature of s...
139Notice of proposals
Every member of the Institute on the Regional Register shall be entitled to table any proposals or resolutions for the consideration of a General Meeting of t...
140Chairman
The Chairman or in his absence the Vice-Chairman of the Regional Council shall be the Chairman of the General Meetings of the Regional Constituency. In the ab...
141Quorum
Ten members shall form the quorum for a meeting. No business shall be transacted at any General Meeting unless the requisite quorum be present at the commence...
142Adjournment
If within half an hour from the time appointed for the meeting, a quorum is not present, the meeting, if convened upon a requisition from members, shall be di...
143Decisions to be by majority
All decisions at all meetings shall be taken by a majority of votes of the members present and voting. In case of equality of votes, the Chairman shall have a...
144Who can vote
No person shall be entitled to vote at the meeting of the members of the Regional Constituency unless his name is on the respective Regional Register and he i...
145Dissolution of the regional council
(1) Notwithstanding anything contained in these Regulations, the Central Council- (a) may, if it considers necessary so to do, dissolve a Regional Council aft...
Chapter XIIChapters of Cost Accountants
146Chapters of cost accountants
(1) The Council may, by Notification in the Journal of the Institute, constitute Chapters of Cost Accountants and for that purpose make Bye-laws in connectio...
Schedule
Form ARegister Of Members Of The Institute Of Cost And Works Accountants Of India
(See Regulation 3) Enroll- ment No. Name in full Date of birth Domi- cile Resi- dential add- ress Prof- essi- onal add- ress Date of entry in the Regi- ster Qua...
Form BApplication For Admission As Associate /Fellow Of The Institute Of Cost And Works Accountants Of India
[See Regulation 6] To The Secretary to the Council of The Institute of Cost and Works Accountants of India, 12, Sudder Street, Calcutta-16. Sir, I beg to apply...
Form CCertificate Of Membership
[See Regulation 9] No ........ (Emblem) This is to certify that ........................ of ......................... was admitted as an Associate/Fellow of th...
Form DApplication For The Issue Or Renewal Of A Certificate Of Practice
[See Regulation 10] To The Secretary to the Council of The Institute of Cost and Works Accountants of India, 12, Sudder Street, Calcutta-16. Sir, I have already...
Form ECertificate Of Practice
[See Regulation 10] No. ......... T (Emblem) This is to certify that ...............of ............... an Associate / a Fellow Member of the Institute, is ent...
Form FRenewal Of Certificate Of Practice
[See Regulation 10] (Emblem) This is to certify that the validity of the Certificate of Practice No. .................. dated ................... issued in fa...
Form GComplaint
[See Regulation 12] Section 21 Between Petitioner And Respondent Petitioner's address: Respondent's address: Particulars of complaint in paragraphs consecutive...
Form HApplication For Restoration To Membership Of The Institute Of Cost And Works Accountants Of India
[See Regulation 17] To The Secretary to the Council of The Institute of Cost and Works Accountants of India, 12, Sudder Street, Calcutta-16. Sir, I beg to apply...
Form IApplication For Registration As A Student
[See Regulation 20] To The Secretary to the Council of The Institute of Cost and Works Accountants of India, 12, Sudder Street, Calcutta-16. Sir, I beg to apply...
Form JExamination Certificate
[See Regulation 40 & 51] This is to certify that .......... of .......... has passed (............. ) the .............. Examination held by the Institute ...
Form KNomination Of A Candidate For Election To The Council Of The Institute Of Cost And Works Accountants Of India
[See regulation 57] We, the undersigned Members of the Institute of Cost and Works Accountants of India, being qualified to vote in the election of members to ...
Form LParticulars Of Offices And Firm
[See Regulation 108] 1. Name of Firm / Cost Accountant's trade name. 2. Name(s) of the Proprietor / Partners of the firm with his / their Membership Number (s...
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