Act 38 of 1949

The Chartered Accountants Act, 1949

An Act to make provision for the regulation of the profession of chartered accountants.

  • Ministry of Corporate Affairs
  • Enacted 1949-05-01
  • 60 sections
SectionTitle
1 Short title, extent and commencement. Read
2 Interpretation. Read
3 Incorporation of the Institute. Read
4 Entry of names in the Register of members.Read
5 Fellows and Associates. Read
6 Certificate of practice. Read
7 Members to be known as Chartered Accountants. Read
8 Disabilities. Read
9 Constitution of the Council of the InstituteRead
9A Coordination Committee.Read
10 Re-election or re-nomination to Council. Read
10A Settlement of dispute regarding election. Read
10B Establishment of Tribunal. Read
11 Nomination in default of election or nomination. Read
12 President and Vice-President. Read
13 Resignation of membership and casual vacancies. Read
14 Duration and dissolution of Council. Read
15 Functions of the Council. Read
15A Imparting education by Universities and other bodies. Read
15B Functions of Institute.Read
16 Officers and employees, salary, allowances, etc. Read
17 Committees of the Council. Read
18 Finance of the Council. Read
19 Register of members.Read
20 Removal from the Register of members.Read
21 Disciplinary Directorate. Read
21A Board of Discipline. Read
21B Disciplinary Committee. Read
21C Authority, Disciplinary Committee, Board of Discipline and Director (Discipline) to have powers of civil court. Read
21D Transitional provisions. Read
22 Professional or other misconduct defined. Read
22A Constitution of Appellate Authority. Read
22B Term of office of Chairperson and members of Authority. Read
22C Allowances and conditions of service of Chairperson and members of Authority. Read
22D Procedure to be regulated by Authority. Read
22E Officers and other staff of Authority. Read
22F Resignation and removal of Chairperson and members. Read
22G Appeal to Authority. Read
23 Constitution and functions of Regional Councils. Read
24 Penalty for falsely claiming to be a member, etc. Read
24A Penalty for using name of the Council, awarding degrees of chartered accountancy, etc. Read
25 Companies not to engage in accountancy. Read
26 Unqualified persons not to sign documents. Read
27 Maintenance of branch offices. Read
28 Sanction to prosecute. Read
28A Establishment of Quality Review Board. Read
28B Functions of Board. Read
28C Procedure of Board. Read
28D Terms and conditions of services of Chairperson and members of Board and its expenditure. Read
29 Reciprocity. Read
29A Power of Central Government to make rules Read
30 Power to make regulations.Read
30A Powers of Central Government to direct regulations to be made or to make or amend regulations.Read
30B Rules, regulations and notifications to be laid before ParliamentRead
30C Power of Central Government to issue directions.Read
30D Protection of action taken in good faith.Read
30E Members, etc., to be public servants.Read
31 Construction of references.Read
32 Act not to affect right of accountants to practise as such in Part B States.Read
33 Repealed.Read
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