Section 26 – The Cost and Works Accountants Act, 1959

Companies not to engage in cost accountancy.

(1) No company, whether incorporated in India or elsewhere, shall practise as cost accountants.

(2) Any contravention of the provisions of sub-section (1) shall be punishable on first conviction with fine which may extend to one thousand rupees, and on any subsequent conviction to five thousand rupees.

1[Explanation : For the removal of doubts, it is hereby declared that the “company” shall include any limited liability partnership which has company as its partner for the purposes of this section.]

 

Amendment

1. Inserted, by the Cost and Works Accountants (Amendment) Act, 2011, w.e.f. 1-2-2012.

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