Cost Accountants Act, 1959

The Cost Accountants Act, 1959

Rules Regulations Notifications Orders Circulars Ordinance Statutes

Act ID:	195923
Act Number:	23
Enactment Date:	1959-05-19
Act Year:	1959
Short Title:	The Cost Accountants Act, 1959
Long Title:	An Act to make provision for the regulation of the profession of cost and works accountants.
Ministry:	Ministry of Corporate Affairs
Enforcement Date:	28-05-1959
Notification:	28th May, 1959, vide notification No. G.S.R. 610, dated 25th May, 1959, see Gazette of India, Extraordinry, Part II, sec. 3(i).


Schedule 1. THE FIRST SCHEDULE Order Appendix Forms
Schedule 2. THE SECOND SCHEDULE. Order Appendix Forms

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Show all section The Cost Accountants Act, 1959

CHAPTER I

PRELIMINARY

CHAPER II

THE INSTITUTE OF COST ACCOUNTANTS

CHAPTER III

COUNCIL OF THE INSTITUTE

CHAPTER IV

REGISTER OF MEMBERS

CHAPTER V

MISCONDUCT

CHAPTER VI

REGIONAL COUNCIL

CHAPTER VII

PENALTIES

CHAPTER VIIA

QUALITY REVIEW BOARD

CHAPTER VIII

DISSSOLUTION OF THE INSTITUTE OF COST AND WORKS ACCOUNTANTS REGISTERED UNDER THE COMPANIES ACT, 1956 (1 OF 1956)

CHAPTER IX

MISCELLANEOUS


Section 1. Short title, extent and commencement. Show Related Subordinates
Section 2. Definitions and interpretation.
Section 3. Incorporation of the Institute. Show Related Subordinates
Section 4. Entry of names in the Register of members. Show Related Subordinates
Section 5. Fellows and Associates.
Section 6. Certificate of practice.
Section 7. Members to be known as cost accountants.
Section 8. Disabilities. Show Related Subordinates
Section 9. Constitution of the Council of the Institute. Show Related Subordinates
Section 10. Re-election or re-nomination to Council.
Section 10A. Settlement of disputes regarding election.
Section 10B. Establishment of Tribunal. Show Related Subordinates
Section 11. Nomination in default of election.
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. Functions of Institute.
Section 15B. Imparting education by Universities and other bodies.
Section 16. Officers and employees, salary, allowances, etc.
Section 17. Committees of the Council.
Section 18. Finances of the Council.
Section 19. Register of members.
Section 20. Removal from the Register of members.
Section 21. Disciplinary Directorate. Show Related Subordinates
Section 21A. Board of Discipline.
Section 21B. Disciplinary Committee. Show Related Subordinates
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. Show Related Subordinates
Section 22B. Term of office of members of Authority.
Section 22C. Procedure, etc., of Authority. Show Related Subordinates
Section 22D. Officers and other staff of Authority.
Section 22E. Appeal to Authority.
Section 23. Constitution and functions of Regional Councils.
Section 24. Penalty for falsely claiming to be a member, etc.
Section 25. Penalty for using name of the Council, awarding degrees of cost accountancy, etc.
Section 26. Companies not to engage in cost accountancy.
Section 27. Unqualified persons not to sign documents.
Section 28. Offences by companies. Show Related Subordinates
Section 29. Sanction to prosecute. Show Related Subordinates
Section 29A. Establishment of Quality Review Board. Show Related Subordinates
Section 29B. Functions of Board. Show Related Subordinates
Section 29C. Procedure of Board. Show Related Subordinates
Section 29D. Terms and conditions of service of Chairperson and members of Board and its expenditure. Show Related Subordinates
Section 30. Dissolution of the Institute of Cost and Works Accountants registered under the Companies Act, 1956.
Section 31. Transfer of assets and liabilities of the dissolved company to the Institute.
Section 32. Provisions respecting employees of the dissolved company.
Section 33. Omitted.
Section 34. Alteration in the Register and cancellation of certificate.
Section 35. Directions of the Central Government.
Section 36. Protection of action taken in good faith.
Section 36A. Members, etc., to be public servants.
Section 37. Maintenance of branch offices. Show Related Subordinates
Section 38. Reciprocity. Show Related Subordinates
Section 38A. Power of Central Government to make rules Show Related Subordinates
Section 39. Power to make regulations.
Section 40. Rules, regulations and notifications to laid before Parliament.


Schedule 1. THE FIRST SCHEDULE Order Appendix Forms
Schedule 2. THE SECOND SCHEDULE. Order Appendix Forms

Year	Description	Hindi Description	Files(Eng)	Files(Hindi)
2001	Procedure of Investigation ( English & Hindi version)
2006	Procedure of Meetings ( English & Hindi version))
17-11-2006	The Cost and Works Accountants (Nomination of Members to the Council) Rules, 2006
17-11-2006	The Cost and Works Accountants (Election Tribubal) Rules 2006, (as amende in 2011)
27-11-2006	The Cost and Works Accountants Procedure of Meeting of Quality Review Board and Terms and Conditions of Services and Allowences of the Chairperson and Members of the Board Rules,2006 (as amended in 2012)
22-03-2016	Appellate Authority (Allowances payable to, and other terms and conditions of service of Chairperson and members and the manner of meeting expenditure of the Authority) Rules, 2006
11-05-2016	In exercise of the powers conferred by sub-section(1) of section 10B of the cost and works Accountants Act, 1959(23 of 1959)
09-04-2018	Procedure of Investigation of Professional and Other Misconduct and Conduct of Cases, 2018

Year	Description	Hindi Description	Files(Eng)	Files(Hindi)
20-01-1982	Submission of cost audit report
15-02-1982	Additional information to be furnished along with the Cost Audit Reports.
13-12-2010	Members of professional institutes arrested by law enforcement agencies for criminal offences - Deirections of Central Government - issue of.
04-04-2011	Interpretation of the word “Partnership” for the purpose of Chartered Accountants Act, 1949, Cost and Works Accountants Act, 1959 and Company Secretaries Act, 1980.
30-11-2011	Cost Accounting Records and Cost Audit – clarifications about coverage of certain sectors thereunder
30-11-2011	Cost Accounting Records and Cost Audit – clarifications regarding applicability and compliance requirements

Year	Description	Hindi Description	Files(Eng)	Files(Hindi)
08-08-2006	The Cost and Works Accountants (Amendment) Act, 2006.
08-08-2006	The Cost and Works Accountants (Amendment) Act, 2006.
18-08-2006	The Cost and Works Accountants (Amendment) Act, 1959.
17-11-2006	The Cost and Works Accountants (Amendment) Act, 1959.
17-11-2006	Change of designation of the Presiding Officer of the Election Tribunal of the Institute of Cost Accountants of India
17-11-2006	The Cost and Works Accountants (Amendment) Act, 2006.
17-11-2006	The Cost and Works Accountants (Amendment) Act, 1959
27-11-2006	The Cost and Works Accountants (Amendment) Act, 1959.
27-02-2007	Framing of Rules under Section 38(A), sub section 2, clause c and d of the Cost and Works Accountants Act 1959
22-03-2007	Amendment in Notifications GSR 734(E) dated 27.11.2006, GSR 708(E) dated 17.11.2006, GSR 710(E) dated 17.11.2006 and GSR 709(E) dated 17.11.2006,
03-10-2007	Under section 29A of the Cost and works Accountants Act,1959(23 of 1959), constitution of a Quality review board
07-12-2007	Constitution of a Tribunal for settlement of disputes under section,10A of the Cost and Works Accountants Act, in the matter of election to the Council of the Institute of cost and works Accountants of india held in june2007
23-07-2008	Regulations made to amend Cost and Works Accountants Regulations , 1959 , in exercise of powers conferred by cl(a) of sub-section (2) of Section 38A read with cl(a) of sub-section (2) of Section 9 of the Cost and Works Accountants Act, 1959 (23 of 1959)
14-11-2008	Investor Education and Protection Fund (Awareness and Protection of Investors)(Amendment) Rules, 2008 (Notification of revised Form 1)
17-11-2008	Regulations made to further amend Cost and Works Accountants Regulations , 1959 , in exercise of powers conferred by sub-section (1) Section 39 of the Cost and Works Accountants Act, 1959 (23 of 1959)
06-04-2009	Amendment in Cost and Works Accountants Regulation, 1959, in exercise of powers conferred by sub-section (1) of Section 39 of Cost and Works Accountants Acts,1959 (23 of 1959)
21-02-2011	Amendment to Cost and Works Accountants(Election to Council) Rules, 2006
25-02-2011	Amendment to Cost and Works Accountants(Election to Council) Rules, 2006
08-03-2011	The Cost and Works Accountants (Amendment) Act
15-03-2011	Amendments in notification of the Government of India, Ministry of Corporate Affairs, number S.O. 789(E), dated 20th March, 2009
15-03-2011	Amendments in Cost and Works Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairpersons and Members of the Board Rules, 2006
17-06-2011	Amendments in the Appellate Authority(Allowances payable to,and other terms and conditions of service of Chairperson and Members and manner of meeting expenditure of the Authority)Rules,2006
30-01-2012	The Cost and Works Accountants (Amendment) Act, 2011 (No. 3, 4 and 10 of 2012) the Central Government hereby appoints the 1st day of February, 2012 as the date on which the provision of the said Act shall come into force.
06-02-2012	Amendments in the Official Gazette, hereby makes the following amendments in the notification of the Government of India, Ministry of Corporate Affairs, Published in the Gazette of India vide No. G.S.R. 1693(E), dated the 3rd October, 2007
24-09-2012	Amendment to SO 789 (E) dated 20th March, 2009
24-09-2012	In exercise of the powers conferred by section 38A of the Cost and Work Accountants Act,1959
03-11-2015	Constitution Of Appellate Authority
16-11-2015	Notification for amendment in G.S.R.787(E)dated 15.10.2015
30-11-2015	Amendment in notification G.S.R 1693 (E) dated 3rd October, 2007
11-05-2016	In excercise of the powers conferred by sub-section(1) of Section 10B of the Cost and Works Accountants Act, 1959(23 and 1959)
06-09-2016	Member on QRB of Institute of Cost Accountants of India.
28-09-2016	Appointment of Member on Election Tribunal of Institute of Cost Accountants of India.
17-11-2016	Change of designation of the Presiding Officer of the Election Tribunal of the Institute of Cost Accountants of India
13-12-2016	Appointment of Chairperson in the Appellate under section 22A of CA, CS, CWA Act.
19-04-2017	Nomination of Members on Tribunal of IcoAI
12-10-2017	Nomination of Members on Tribunal of IcoAI
12-10-2017	Nomination of Members on Tribunal of IcoAI
22-03-2019	The Cost Accountants Chapter Bye Laws 2019

Schedule 1. THE FIRST SCHEDULE

Schedule 2. THE SECOND SCHEDULE.