Section 39 – The Cost and Works Accountants Act, 1959

(1) The Council may, by notification in the Gazette of India, make regulations for the purpose of carrying out the objects of this Act ¹[***].

(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:—

(a) the standard and conduct of examinations under this Act;

(b) the qualifications for the entry of the name of any person in the Register as a member of the Institute;

(c) the qualification required for the purposes of sub-section (4) of section 5;

(d) the conditions under which any examination or training may be treated as equivalent to the examination or training prescribed for members of the Institute;

(e) the conditions under which any foreign qualification may be recognised;

(f) the manner in which and the conditions subject to which applications for entry in the Register may be made;

(g) the fees payable for membership of the Institute and the annual fees payable by associates and fellows of the Institute in respect of their certificates;

(h) the manner in which elections to ²[***] the Regional Councils may be held;

(i) the particulars to be entered in the Register; (j) the functions of Regional Councils;

(k) the regulation and maintenance of the status and standard of professional qualifications of members of the Institute;

(l)the carrying out of research in accountancy;

(m) the maintenance of libraries and publication of books and periodicals relating to cost accountancy and allied subjects;

(n) the management of the property of the Council and the maintenance and audit of its accounts;

(o) the summoning and holding the meetings of the Council and committees thereof, the times and places of such meetings, the procedure to be followed thereat and the number of members necessary to form a quorum;

(p) the manner in which the annual list of members of the Institute shall be published;

(q) the powers, duties and functions of the President and the Vice-President of the Council;

(r) the functions of the Standing and other committees and the conditions subject to which such functions shall be discharged;

(s) the terms of office, and the powers, duties and functions of the Secretary and other employees of the Council;

(t)³[***]

(u) the terms and conditions of service of persons who have become employees of the Institute under section 32 of this Act;

(v) the registration and training of students and the fees to be charged therefor, and

(w) any other matter which is required to be, or may be, prescribed under this Act.

(3) All regulations made by the Council under this Act shall be subject to the condition of previous publication and to the approval of the Central Government.

(4) Notwithstanding anything contained in sub-sections (1) and (2), the Central Government may frame the first regulations for the purposes mentioned in this section, and such regulations shall be deemed to have been made by the Council, and shall remain in force until they are amended, altered or revoked by the Council.

(5) ⁴[***]

Amendment

¹Words “,and a copy of such regulations shall be sent to each member of the Institute” omitted by the Cost and Works Accountants (Amendment) Act, 2006, w.e.f. 8-8-2006.

²Words “the Council and” omitted, by the Cost and Works Accountants (Amendment) Act, 2006, w.e.f. 8-8-2006.

³Omitted by the Cost and Works Accountants (Amendment) Act, 2006, w.e.f. 8-8-2006. Prior to its omission, clause (t) read as under :

“(t) the exercise of disciplinary powers conferred by this Act;”

⁴Omitted, by the Cost and Works Accountants (Amendment) Act, 2006, w.e.f. 8-8-2006. Prior to its omission, sub-section (5), as inserted by the Delegated Legislation Provisions (Amendment) Act, 1983, w.e.f. 15-3-1984, read as under:

“(5) Every regulation made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation, or both Houses agree that the regulation should not be made, the regulation shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that regulation.”