Section 27
Unqualified persons not to sign documents.
The Cost Accountants Act, 1959
About this Act
An Act to make provision for the regulation of the profession of cost and works accountants.
(1) No person other than a member of the
Institute shall sign any document on behalf of cost accountant in practice or a firm of such cost
accountants in his or its professional capacity.
1[(2) Any person who contravenes the provisions of sub-section (1) shall, without prejudice to any other proceedings which may be taken against him, be punishable on first conviction with a fine not less than 2[one lakh rupees] but which may extend to 3[five lakh rupees], and in the event of a second or subsequent conviction with imprisonment for a term which may extend to one year or with a fine not less than 4[two lakh rupees] but which may extend to 5[ten lakh rupees[ or with both.]
1[(2) Any person who contravenes the provisions of sub-section (1) shall, without prejudice to any other proceedings which may be taken against him, be punishable on first conviction with a fine not less than 2[one lakh rupees] but which may extend to 3[five lakh rupees], and in the event of a second or subsequent conviction with imprisonment for a term which may extend to one year or with a fine not less than 4[two lakh rupees] but which may extend to 5[ten lakh rupees[ or with both.]
Notes
1. Subs. by Act 7 of 2006, s. 24, for sub-section (2) (w.e.f. 17-11-2006)
2. Subs. by Act 12 of 2022, s. 66, for “five thousand rupees” (w.e.f. 10-5-2022).
3. Subs. by s. 66, ibid., for “ one lakh rupees” (w.e.f. 10-5-2022).
4. Subs. by s. 66, ibid., for “ten thousand rupees” (w.e.f. 10-5-2022).
5. Subs. by s. 66, ibid., for “ two lakh rupees” (w.e.f. 10-5-2022).
2. Subs. by Act 12 of 2022, s. 66, for “five thousand rupees” (w.e.f. 10-5-2022).
3. Subs. by s. 66, ibid., for “ one lakh rupees” (w.e.f. 10-5-2022).
4. Subs. by s. 66, ibid., for “ten thousand rupees” (w.e.f. 10-5-2022).
5. Subs. by s. 66, ibid., for “ two lakh rupees” (w.e.f. 10-5-2022).