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Bar News Acts League

The Chartered Accountants Act, 1949

Act ID: 1949

The Chartered Accountants Act, 1949

"An Act to make provision for the regulation of the profession of Chartered Accountants."

Table of Contents

58 Sections

Ch. 1

PRELIMINARY

S.1Short title, extent and commencement.S.2Interpretation.

Ch. 2

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

S.3Incorporation of the Institute.S.4Entry of names in the Register of members.S.5Fellows and Associates.S.6Certificate of practice.S.7Members to be known as Chartered Accountants.S.8Disabilities.

Ch. 3

COUNCIL OF THE INSTITUTE

S.9Constitution of the Council of the Institute S.10Re-election or re-nomination to Council.S.10ASettlement of dispute regarding election.S.10BEstablishment of Tribunal.S.11Nomination in default of election or nomination.S.12President and Vice-President.S.13Resignation of membership and casual vacancies.S.14Duration and dissolution of Council.S.15Functions of the Council.S.15AImparting education by Universities and other bodies.S.16Officers and employees, salary, allowances, etc.S.17Committees of the Council.S.18Finance of the Council.

Ch. 4

REGISTER OF MEMBERS

S.19Register of members.S.20Removal from the Register of members.

Ch. 5

MISCONDUCT

S.21Disciplinary Directorate.S.21ABoard of Discipline.S.21BDisciplinary Committee.S.21CAuthority, Disciplinary Committee, Board of Discipline and Director (Discipline) to have powers of civil court.S.21DTransitional provisions.S.22Professional or other misconduct defined.S.22AConstitution of Appellate Authority.S.22BTerm of office of Chairperson and members of Authority.S.22CAllowances and conditions of service of Chairperson and members of Authority.S.22DProcedure to be regulated by Authority.S.22EOfficers and other staff of Authority.S.22FResignation and removal of Chairperson and members.S.22GAppeal to Authority.

Ch. 6

REGIONAL COUNCILS

S.23Constitution and functions of Regional Councils.

Ch. 7

PENALTIES

S.24Penalty for falsely claiming to be a member, etc.S.24APenalty for using name of the Council, awarding degrees of chartered accountancy, etc.S.25Companies not to engage in accountancy.S.26Unqualified persons not to sign documents.S.27Maintenance of branch offices.S.28Sanction to prosecute.

Ch. 8

QUALITY REVIEW BOARD

S.28AEstablishment of Quality Review Board.S.28BFunctions of Board.S.28CProcedure of Board.S.28DTerms and conditions of services of Chairperson and members of Board and its expenditure.

Ch. 9

MISCELLANEOUS

S.29Reciprocity.S.29APower of Central Government to make rules S.30Power to make regulations.S.30APowers of Central Government to direct regulations to be made or to make or amend regulations.S.30BRules, regulations and notifications to be laid before Parliament S.30CPower of Central Government to issue directions.S.30DProtection of action taken in good faith.S.30EMembers, etc., to be public servants.S.31Construction of references.S.32Act not to affect right of accountants to practise as such in Part B States.S.33Repealed.