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In force

The Cost Accountants Act, 1959

42 sections · As amended up to 2026-08

Sections

  1. 0Section 0
  2. I — PRELIMINARY
  3. 1Short title, extent and commencement
  4. IX — MISCELLANEOUS
  5. 2Definitions and interpretation
  6. II — THE INSTITUTE OF COST[1] * ACCOUNTANTS
  7. 3Incorporation of the Institute
  8. 4Entry of names in the[3] [Register of members]
  9. I — PRELIMINARY
  10. 528th May, 1959, vide notification No. G.S.R. 610, dated 25th May, 1959, see Gazette of India, Extraordinary, Part II, sec. 3(i)
  11. II — THE INSTITUTE OF COST[1] * ACCOUNTANTS
  12. 6Certificate of practice
  13. 7Members to be known as cost accountants
  14. I — PRELIMINARY
  15. 8The figure "1956" omitted by s. 40, ibid . (w.e.f. 10-5-2022)
  16. III — COUNCIL OF THE INSTITUTE
  17. 9Constitution of the Council of the Institute
  18. 10BEstablishment of Tribunal
  19. 11Nomination in default of election
  20. 12President and Vice-president
  21. 13Resignation of membership and casual vacancies
  22. 14Duration and dissolution of Council
  23. 15BImparting education by Universities and other bodies
  24. 17Committees of the Council
  25. 18Finances of the Council
  26. IV — REGISTER OF MEMBERS
  27. 20Removal from the[9] [Register of members]
  28. V — MISCONDUCT
  29. 21BDisciplinary Committee
  30. 21CAuthority, Disciplinary Committee, Board of Discipline and Director (Discipline) to have
  31. 22DOfficers and other staff of Authority
  32. 22EAppeal to Authority
  33. VI — REGIONAL COUNCILS
  34. 23Constitution and functions of Regional Councils
  35. VII — PENALTIES
  36. 24Penalty for falsely claiming to be a member, etc
  37. 25Penalty for using name of the Council, awarding degrees of cost accountancy, etc
  38. 26Companies not to engage in cost accountancy
  39. 27Unqualified persons not to sign documents
  40. 28Offences by companies
  41. 29Sanction to prosecute
  42. 29AEstablishment of Quality Review Board
  43. 29BFunctions of Board
  44. 29CProcedure of Board
  45. 29DTerms and conditions of service of Chairperson and members of Board and its expenditure
  46. VIII — DISSSOLUTION OF THE INSTITUTE OF COST AND WORKS ACCOUNTANTS REGISTERED UNDER THE COMPANIES ACT, 1956 (1 OF 1956)
  47. 30Dissolution of the Institute of Cost and Works Accountants registered under the Companies Act, 1956
  48. 31Transfer of assets and liabilities of the dissolved company to the Institute
  49. 32Provisions respecting employees of the dissolved company
  50. IX — MISCELLANEOUS
  51. 35Directions of the Central Government
  52. 36AMembers, etc., to be public servants
  53. 37Maintenance of branch offices
  54. 38Reciprocity
  55. 39Power to make regulations