(1) There shall be a Council of the Institute for the management of the affairs of the Institute and for discharging the functions assigned to it under this Act. 1 [(2) The Council shall be composed of the following persons, namely:-- (a) not more than thirty-two persons elected by the members of the Institute from amongst the fellows of the Institute chosen in such manner and from such regional constituencies as may be specified: Provided that a fellow of the Institute, who has been found guilty of any professional or other misconduct and whose name is removed from the 2 [Register of members] or has been awarded penalty of fine, shall not be eligible to contest the election,-- (i) in case of misconduct falling under the First Schedule of this Act, for a period of 3 [four years]; (ii) in case of misconduct falling under the Second Schedule of this Act, for a period of 4 [eight years, ] from the completion of the period of removal of name from the 2 [Register of members] or payment of fine, as the case may be; (b) not more than eight persons to be nominated in the specified manner, by the Central Government.] 5 [(3) No person holding a post under the Central Government or a State Government shall be eligible for election to the Council under clause (a) of sub-section (2) . (4) No 6 [member of the Institute or any partner of a firm] who has been auditor of the Institute shall be eligible for election to the Council under clause (a) of sub-section (2) , for a period of 7 [four years] after he ceases to be an auditor.]Open in Lexace · Ask the AI about this section
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