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Home Bare Acts Phrase: replacement costCost 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.....
View Complete Act List Judgments citing this sectionCost 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.
View Complete Act List Judgments citing this sectionCost and Works Accountants Act, 1959 Complete Act
Title: Cost and Works Accountants Act, 1959
State: Central
Year: 1959
..... Section31 - Transfer of assets and liabilities of the dissolved company to the Institute Section32 - Provisions respecting employees of the dissolved company Chapter IX Section33 - Appeals [Omitted] Section34 - Alteration in the Register and cancellation of certificate Section35 - Directions of the Central Government Section36 - Protection of action taken in good faith Section36A - Members, etc., to be public servants Section37 - Maintenance of branch offices Section38 - Reciprocity Section38A - Power of Central Government to make rules Section39 - Power to make regulations Section40 - Rules, regulations and notifications to laid before Parliament ScheduleI - FIRST SCHEDULE ScheduleII - SECOND SCHEDULE Amending Act1 - COST AND WORKS ACCOUNTANTS (AMENDMENT) ACT, 2006
List Judgments citing this sectionCost 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:
View Complete Act List Judgments citing this sectionCost 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.
View Complete Act List Judgments citing this sectionCost 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:--
View Complete Act List Judgments citing this sectionCost 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:-
View Complete Act List Judgments citing this sectionCost 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.
View Complete Act List Judgments citing this sectionCost 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.....
View Complete Act List Judgments citing this sectionCost 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.
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