Acts › The Cost Accountants Act, 1959The Cost Accountants Act, 1959 59 sections.
Open in Lexace · Ask the AI Section 1 — Short title, extent and commencement. Section 2 — Definitions and interpretation. Section 3 — Incorporation of the Institute. Section 4 — Entry of names in the Register of members. Section 5 — Fellows and Associates. Section 6 — Certificate of practice. Section 7 — Members to be known as cost accountants. Section 8 — Disabilities. Section 9 — Constitution of the Council of the Institute. Section 10 — Re-election or re-nomination to Council. Section 10A — Settlement of disputes regarding election. Section 10B — Establishment of Tribunal. Section 11 — Nomination in default of election. Section 12 — President and Vice-president. Section 13 — Resignation of membership and casual vacancies. Section 14 — Duration and dissolution of Council. Section 15 — Functions of the Council. Section 15A — Functions of Institute. Section 15B — Imparting education by Universities and other bodies. Section 16 — Officers and employees, salary, allowances, etc. Section 17 — Committees of the Council. Section 18 — Finances of the Council. Section 19 — Register of members. Section 20 — Removal from the Register of members. Section 21 — Disciplinary Directorate. Section 21A — Board of Discipline. Section 21B — Disciplinary Committee. Section 21C — Authority, Disciplinary Committee, Board of Discipline and Director (Discipline) to have powers of civil court. Section 21D — Transitional provisions. Section 22 — Professional or other misconduct defined. Section 22A — Constitution of Appellate Authority. Section 22B — Term of office of members of Authority. Section 22C — Procedure, etc., of Authority. Section 22D — Officers and other staff of Authority. Section 22E — Appeal to Authority. Section 23 — Constitution and functions of Regional Councils. Section 24 — Penalty for falsely claiming to be a member, etc. Section 25 — Penalty for using name of the Council, awarding degrees of cost accountancy, etc. Section 26 — Companies not to engage in cost accountancy. Section 27 — Unqualified persons not to sign documents. Section 28 — Offences by companies. Section 29 — Sanction to prosecute. Section 29A — Establishment of Quality Review Board. Section 29B — Functions of Board. Section 29C — Procedure of Board. Section 29D — Terms and conditions of service of Chairperson and members of Board and its expenditure. Section 30 — Dissolution of the Institute of Cost and Works Accountants registered under the Companies Act, 1956. Section 31 — Transfer of assets and liabilities of the dissolved company to the Institute. Section 32 — Provisions respecting employees of the dissolved company. Section 33 — Omitted. Section 34 — Alteration in the Register and cancellation of certificate. Section 35 — Directions of the Central Government. Section 36 — Protection of action taken in good faith. Section 36A — Members, etc., to be public servants. Section 37 — Maintenance of branch offices. Section 38 — Reciprocity. Section 38A — Power of Central Government to make rules Section 39 — Power to make regulations. Section 40 — Rules, regulations and notifications to laid before Parliament. Lexace India is a legal-information & technology platform — not a law firm. It does not advertise, solicit work, or provide legal advice, and no advocate–client relationship is created. Bare-act text for general information; verify against the official source.