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The Chartered Accountants Act, 1949

Central

An Act to make provision for the regulation of the profession of chartered accountants.

Act number
38 of 1949
Ministry
Ministry of Corporate Affairs
Enacted
1 May 1949

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

60 sections

  1. Section 1Short title, extent and commencement.
  2. Section 2Interpretation.
  3. Section 3Incorporation of the Institute.
  4. Section 4Entry of names in the Register of members.
  5. Section 5Fellows and Associates.
  6. Section 6Certificate of practice.
  7. Section 7Members to be known as Chartered Accountants.
  8. Section 8Disabilities.
  9. Section 9Constitution of the Council of the Institute
  10. Section 9ACoordination Committee.
  11. Section 10Re-election or re-nomination to Council.
  12. Section 10ASettlement of dispute regarding election.
  13. Section 10BEstablishment of Tribunal.
  14. Section 11Nomination in default of election or nomination.
  15. Section 12President and Vice-President.
  16. Section 13Resignation of membership and casual vacancies.
  17. Section 14Duration and dissolution of Council.
  18. Section 15Functions of the Council.
  19. Section 15AImparting education by Universities and other bodies.
  20. Section 15BFunctions of Institute.
  21. Section 16Officers and employees, salary, allowances, etc.
  22. Section 17Committees of the Council.
  23. Section 18Finance of the Council.
  24. Section 19Register of members.
  25. Section 20Removal from the Register of members.
  26. Section 21Disciplinary Directorate.
  27. Section 21ABoard of Discipline.
  28. Section 21BDisciplinary Committee.
  29. Section 21CAuthority, Disciplinary Committee, Board of Discipline and Director (Discipline) to have powers of civil court.
  30. Section 21DTransitional provisions.
  31. Section 22Professional or other misconduct defined.
  32. Section 22AConstitution of Appellate Authority.
  33. Section 22BTerm of office of Chairperson and members of Authority.
  34. Section 22CAllowances and conditions of service of Chairperson and members of Authority.
  35. Section 22DProcedure to be regulated by Authority.
  36. Section 22EOfficers and other staff of Authority.
  37. Section 22FResignation and removal of Chairperson and members.
  38. Section 22GAppeal to Authority.
  39. Section 23Constitution and functions of Regional Councils.
  40. Section 24Penalty for falsely claiming to be a member, etc.
  41. Section 24APenalty for using name of the Council, awarding degrees of chartered accountancy, etc.
  42. Section 25Companies not to engage in accountancy.
  43. Section 26Unqualified persons not to sign documents.
  44. Section 27Maintenance of branch offices.
  45. Section 28Sanction to prosecute.
  46. Section 28AEstablishment of Quality Review Board.
  47. Section 28BFunctions of Board.
  48. Section 28CProcedure of Board.
  49. Section 28DTerms and conditions of services of Chairperson and members of Board and its expenditure.
  50. Section 29Reciprocity.
  51. Section 29APower of Central Government to make rules
  52. Section 30Power to make regulations.
  53. Section 30APowers of Central Government to direct regulations to be made or to make or amend regulations.
  54. Section 30BRules, regulations and notifications to be laid before Parliament
  55. Section 30CPower of Central Government to issue directions.
  56. Section 30DProtection of action taken in good faith.
  57. Section 30EMembers, etc., to be public servants.
  58. Section 31Construction of references.
  59. Section 32Act not to affect right of accountants to practise as such in Part B States.
  60. Section 33Repealed.