THE CHARTERED ACCOUNTANTS ACT, 1949

ACT NO. 38 OF 1949 · Enacted [1st May, 1949.] · 58 sections

PRELIMINARY

Section 1.Short title, extent and commencement.

Section 2.Interpretation.

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

Section 3.Incorporation of the Institute.

Section 4.Entry of names in the Register.

Section 5.Fellows and Associates.

Section 6.Certificate of practice.

Section 7.Members to be known as Chartered Accountants.

Section 8.Disabilities.

COUNCIL OF THE INSTITUTE

Section 9.Constitution of the Council of the Institute.

Section 10.Re-election or re-nomination to Council.

Section 10A.Settlement of dispute regarding election.

Section 10B.Establishment of Tribunal.

Section 11.Nomination in default of election or nomination.

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.Imparting education by Universities and other bodies.

Section 16.Officers and employees, salary, allowances, etc.

Section 17.Committees of the Council.

Section 18.Finance of the Council.

REGISTER OF MEMBERS

Section 19.Register.

Section 20.Removal from the Register.

MISCONDUCT

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 Chairperson and members of Authority.

Section 22C.Allowances and conditions of service of Chairperson and members of Authority.

Section 22D.Procedure to be regulated by Authority.

Section 22E.Officers and other staff of Authority.

Section 22F.Resignation and removal of Chairperson and members.

Section 22G.Appeal to Authority.

REGIONAL COUNCILS

Section 23.Constitution and functions of Regional Councils.

PENALTIES

Section 24.Penalty for falsely claiming to be a member, etc.

Section 24A.Penalty for using name of the Council, awarding degrees of chartered accountancy, etc.

Section 25.Companies not to engage in accountancy.

Section 26.Unqualified persons not to sign documents.

Section 27.Maintenance of branch offices.

Section 28.Sanction to prosecute.

QUALITY REVIEW BOARD

Section 28A.Establishment of Quality Review Board.

Section 28B.Functions of Board.

Section 28C.Procedure of Board.

Section 28D.Terms and conditions of services of Chairperson and members of Board and its expenditure.

MISCELLANEOUS

Section 29.Reciprocity.

Section 29A.Power of Central Government to make rules.

Section 30.Power to make regulations.

Section 30A.Powers of Central Government to direct regulations to be made or to make or amend regulations.

Section 30B.Rules, regulations and notifications to be laid before Parliament.

Section 30C.Power of Central Government to issue directions.

Section 30D.Protection of action taken in good faith.

Section 30E.Members, etc., to be public servants.

Section 31.Construction of references.

Section 32.Act not to affect right of accountants to practise as such in Part B States.

Section 33.[Repealed.]