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

CHAPTER VII PENALTIES 24. Penalty for falsely claiming to be a member, etc. —Any person who,— - (i) not being a member of the Institute— - (a) represents that he is a member of the Institute; or (b) uses the designation cost accountant; or (ii) being a member of the Institute, but not having a certificate of practice, represents that he is in practice or practices as a cost accountant; shall be punishable on first conviction with fine which may extend to[1] [one lakh rupees], and on any subsequent conviction with imprisonment which may extend to six months, or with fine which may extend to[2] [five lakh rupees], or with both.