Bare Act Search Results

Cost and Works Accountants Act, 1959 Chapter II

Title: The Institute of Cost and Works Accountants

State: Central

Year: 1959

.....be deemed to have practiced in India for any period for which he has held a certificate of practice under section 6, notwithstanding that he did not actually practice during that period. Explanation II.-- In computing the continuous period during which a person has been an associate of the Institute, there shall be included any continuous period during which the person has been an associate of the dissolved company immediately before he became an associate of the Institute.] (5) Any person whose name is entered in the Register as a fellow of the Institute and so long as his name remains so entered, shall be entitled to use the letters FICWA after his name to indicate that he is a fellow of the Institute of Cost and Works Accountants. ________________________________ 1. Substituted by the Cost and Works Accountants (Amendment) Act, 2006. Prior to substitution, it read as under: "(4) A member, being an associate who has been in continuous practice in India for at least five year's, whether before or after the commencement of this Act, or whether partly before and partly after the commencement of this Act, and a member who has been an associate for a continuous period of.....

Cost and Works Accountants Act, 1959 Section 25

Title: Penalty for Using Name of the Council, Awarding Degrees of Cost Accountancy, Etc

State: Central

Year: 1959

.....fine which may extend to five thousand rupees, or with both. 1[***] (4) If the Central Government is satisfied that any diploma or certificate or any designation granted or conferred by any person other than the Institute, which purports to be a qualification in cost accountancy but which, in the opinion of the Central Government, falls short of the standard of qualifications prescribed for cost accountants and does not in fact indicate or purport to indicate the position or attainment of any qualification or competence in cost accountancy similar to that of a member of the Institute, it may, by notification in the Official Gazette and subject to such conditions as it may think fit to impose, declare that this section shall not apply to such diploma or certificate or designation. __________________________ 1.Sub-section 3 omitted by the Cost and Works Accountants (Amendment) Act, 2006.

Cost and Works Accountants (Amendment) Act, 2011, (Central) Preamble

Title: the Cost and Works Accountants (Amendment) Act, 2011

State: Central

Year: 2011

THE COST AND WORKS ACCOUNTANTS (AMENDMENT) ACT, 2011 [Act No. 10 of 2012] [12th January, 2012] PREAMBLE An Act further to amend the Cost and Works Accountants Act, 1959. BE it enacted by Parliament in the Sixty-second Year of the Republic of India as follows:-

Cost and Works Accountants Act, 1959 Preamble 1

Title: Cost and Works Accountants Act, 1959

State: Central

Year: 1959

THE COST AND WORKS ACCOUNTANTS ACT, 1959 [Act, No. 23 of 1959] [19th May, 1959.] PREAMBLE An act to make provision for the regulation of the profession of cost and works accountants. BE it enacted by Parliament in the Tenth Year of the Republic of India as follows:

Cost and Works Accountants Act, 1959 Section 7

Title: Members to Be Known as Cost Accountants

State: Central

Year: 1959

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 such member from adding any other description or letters to his name, if entitled thereto, to indicate membership of such other Institute of Accountancy, whether in India or elsewhere, as may be recognised in this behalf by the Council, or any other qualification that he may possess, or to prohibit a firm, all the partners of which are members of the Institute and in practice, from being known by its firm name as cost accountants.

Cost and Works Accountants (Amendment) Act, 2006 Preamble 1

Title: The Cost and Works Accountants (Amendment) Act, 2006

State: Central

Year: 2006

THE COST AND WORKS ACCOUNTANTS (AMENDMENT) ACT, 2006 [Act, No. 7 of 2006] [17 March, 2006] PREAMBLE An Act further to amend the Cost and Works Accountants Act, 1959. Be it enacted by Parliament in the Fifty-seventh Year of the Republic of India as follows:--

Cost and Works Accountants Act, 1959 Section 26

Title: Companies Not to Engage in Cost Accountancy

State: Central

Year: 1959

(1) No company, whether incorporated in India or elsewhere, shall practice as cost accountants. (2) Any contravention of the provisions of sub-section (1) shall be punishable on first conviction with fine which may extend to one thousand rupees, and on any subsequent conviction to five thousand rupees.

Cost and Works Accountants Act, 1959 Chapter VIII

Title: Dissolution of the Institute of Cost and Works Accountants Registered Under the Companies Act,1956 (1 of 1956)

State: Central

Year: 1959

.....no member of that company shall make, assert or take any claims or demands or proceedings in respect of that company except as provided in this Act. Section 31 - Transfer 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) The assets of the dissolved company shall be deemed to include all rights and powers, and all property, whether movable or immovable of the company, including, in particular, cash balances, reserve funds, investments, deposits and all other interests and rights in or arising out of such property as may be in the possession of the dissolved company and all books of accounts or documents of the dissolved company; and the liabilities shall be deemed to include all debts, liabilities and obligations of whatever kind then existing of that company. (3) All contracts, debts, bonds, agreements and other instruments of whatever nature to which the dissolved company is a party, subsisting or having effect immediately before the commencement of this Act, shall be of as full force and effect.....

Cost and Works Accountants Act, 1959 Section 30

Title: Dissolution of the Institute of Cost and Works Accountants Registered Under the Companies Act, 1956

State: Central

Year: 1959

On the commencement of this Act,-- (a) the company known as the Institute of Cost and Works Accountants registered under the Companies Act, 1956, shall be dissolved and thereafter no person shall make, assert or take any claims, demands or proceedings against the dissolved company or against any officer thereof in his capacity as such officer except in so far as may be necessary, for enforcing the provisions of this Act; (b) the right of every member to or in respect of the dissolved company shall be extinguished, and thereafter no member of that company shall make, assert or take any claims or demands or proceedings in respect of that company except as provided in this Act.

Cost and Works Accountants Act, 1959 Complete Act

State: Central

Year: 1959

.....Register; (d) the recognition of foreign qualifications and training for purposes of enrolment; (e) the granting or refusal of certificates of practice under this Act; (f) the maintenance and publication of a Register of persons qualified to practise as cost accountants; (g) the levy and collection of fees from members, examinees and other persons; (h) the removal of names from the Register and restoration to the Register of names which have been removed; (i) the regulation and maintenance of the status and standard of professional qualifications of members of the Institute; (j) the carrying out, by financial assistance to persons other than members of the Council or in any other manner, of research in accountancy; (k) the maintenance of libraries and publication of books and periodicals relating to cost accountancy and allied subjects; and (l) the exercise of disciplinary powers conferred by this Act. SECTION 16: STAFF 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) appoint such other persons on its staff as it deems necessary;.....