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

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

State: Central

Year: 2011

Preamble - THE COST AND WORKS ACCOUNTANTS (AMENDMENT) ACT, 2011 Section 1 - Short title and commencement Section 2 - Amendment of section 2 Section 3 - Amendment of section 3 Section 4 - Amendment of section 5 Section 5 - Amendment of section 22A Section 6 - Amendment of section 25 Section 7 - Amendment of section 26 Section 8 - Amendment of First Schedule

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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:-

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Cost and Works Accountants (Amendment) Act, 2011, (Central) Section 2

Title: Amendment of Section 2

State: Central

Year: 2011

.....in section 4 of the Indian Partnership Act, 1932 (9 of 1932), and includes, (i) the limited liability partnership as defined in clause (n) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009); or (ii) the sole proprietorship, registered with the Institute;; (II) in clause (f), for the words "Institute of Cost and Works Accountants of India", the words "Institute of Cost Accountants of India" shall be substituted; (III) after clause (fa), the following clauses, shall be inserted, namely: (fb) "partner" shall have the meaning assigned to it in section 4 of the Indian Partnership Act, 1932 (9 of 1932) or in clause (q) of sub-section (I) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009), as the case may be; (fc) "partnership" means (A) a partnership as defined in section 4 of the Indian Partnership Act, 1932 (9 of 1932); or (B) a limited liability partnership which has no company as its Partner;; (IV) after clause (ia), the following clause shall be inserted, namely: '(iaa) "sole proprietorship" means an individual who engages himself in the practice of cost accountancy or offers to perform services.....

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Cost and Works Accountants (Amendment) Act, 2011, (Central) Section 4

Title: Amendment of Section 5

State: Central

Year: 2011

In section 5 of the principal Act, (a) in sub-section (2), (i) for the letters "AICWA", the letters "ACMA" shall be substituted; (ii) for the words "Institute of Cost and Works Accountants", the words "Institute of Cost Accountants of India" shall be substituted; (b) in sub-section (5), (i) for the letters "FICWA", the letters "FCMA" shall be substituted; (ii) for the words "Institute of Cost and Works Accountants", the words "Institute of Cost Accountants of India" shall be substituted.

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Cost and Works Accountants (Amendment) Act, 2011, (Central) Section 1

Title: Short Title and Commencement

State: Central

Year: 2011

(1) This Act may be called the Cost and Works Accountants (Amendment) Act, 2011. (2) It shall come into force on such 1date as the Central Government may, by notification in the Official Gazette, appoint. _______________________ 1. Effective from 01.02.2012 vide Notification No. SO191(E) dated 30.01.2012.

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Cost and Works Accountants (Amendment) Act, 2011, (Central) Section 3

Title: Amendment of Section 3

State: Central

Year: 2011

In section 3 of the principal Act, in sub-section (1), for the words "Institute of Cost and Works Accountants of India", the words "Institute of Cost Accountants of India" shall be substituted.

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Cost and Works Accountants (Amendment) Act, 2011, (Central) Section 5

Title: Amendment of Section 22a

State: Central

Year: 2011

In section 22A of the principal Act, for the words "Institute of Cost and Works Accountants of India", the words "Institute of Cost Accountants of India" shall be substituted.

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Cost and Works Accountants (Amendment) Act, 2011, (Central) Section 6

Title: Amendment of Section 25

State: Central

Year: 2011

In section 25 of the principal Act, in sub-section (1), in clause (iii), for the words "cost and works accountants", the words "cost accountants" shall be substituted.

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Cost and Works Accountants (Amendment) Act, 2011, (Central) Section 7

Title: Amendment of Section 26

State: Central

Year: 2011

In section 26 of the principal Act, in sub-section (1), the following Explanation shall be inserted, namely:- `Explanation.---For the removal of doubts, it is hereby declared that the "company" shall include any limited liability partnership which has company as its partner for the purposes of this section.'.

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Cost and Works Accountants (Amendment) Act, 2011, (Central) Section 8

Title: Amendment of First Schedule

State: Central

Year: 2011

In the First Schedule to the principal Act, in Part I, in item (7), for the words "Institute of Cost Accountants of India", the words "Institute of Cost Accountants of India" shall be substituted.

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