Incorporation of the Institute
Section 3 of the Chartered Accountants Act, 1949 deals with incorporation of the Institute. All persons whose names are entered in the Register at the commencement of this Act and all persons who may hereafter have their names entered in the Register under the provisions of this Act, so long as they continue to have their names borne on the said Register, are hereby constituted a body corp The Act came into force on 01 Jul 1949.
(1) All persons whose names are entered in the Register at the commencement of this Act and all persons who may hereafter have their names entered in the Register under the provisions of this Act, so long as they continue to have their names borne on the said Register, are hereby constituted a body corporate by the name of the Institute of Chartered Accountants of India, and all such persons shall be known as members of the Institute.
(2) The Institute shall have perpetual succession and a common seal and shall have power to acquire, hold and dispose of property, both movable and immoveable, and shall by its name sue or be sued.
Section 3, The Chartered Accountants Act, 1949 (Act 38 of 1949).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 6
- Companies Act s. 133 Central Government to prescribe accounting standards
- Companies Act s. 143 Powers and duties of auditors and auditing standards
- Finance Act s. 137 Substitution of section 25
- Life Insurance Corporation Act s. 25 Appointment of auditors
- Limited Liability Partnership Act s. 34A Accounting and auditing standards
- Prevention of Money-Laundering Act s. 54 Certain officers to assist in inquiry etc
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
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Inst. of Chartered Accountants of India vs Shaunak H Sayta
Court's Decision & Legal Precedent
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On this section: Establishment of ICAI as body corporate
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Judgments citing this section
These may be obiter dicta or a precedent, for you to study. These are the judgments where this section is quoted.
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… of the PSC as being illegal and unlawful, asserting that the firm of Chartered Accountants, which has issued the experience certificate, namely Ext.P2, is a Body Corporate, going by the provisions of the Chartered Accountants Act, 1949 (hereinafter referred to as 'the Act' for short). The petitioner falls upon Section 3 of the said Act to assert that every Chartered Accountant, who is a member of the Institute of Chartered Accountants of India, is statutorily construed as being a Body Corporate, going by its provisions. 4. The afore submissions of the petitioner, voiced by her learned counsel, Sri.Jelson J. Edampadam, obviously …
Made under this section, and citing it
6 instruments state that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.
- Appointment of Chairperson in the Appellate under section 22A of CA, CS, CWA Act.Notification 2016
- Appointment of Members on Election Tribunal of Institute of Chartered Accountants of India.Notification 2016
- Amendment to G.S.R.38( E) dated 19th January 2011. 21/07/15Notification 2015
- Amendment to G.S.R.38( E) dated 19th January 2011.30/09/2015Notification 2015
- Amendment to GSR 38 (E) dated 19th January, 2011 12/06/12Notification 2012
- The Charted Accountants(Amendment) Act,2006. 08/08/12Notification 2012
Another 18 instruments name this provision in its title or its text without being made under it.
- Chartered Accountants(Election to the council) Amended Rules 2021 ( English & Hindi version)Rule 2021
- The Chartered Accountants Act(Procedure of Investigation of Professional and Other Misconduct and Conduct of Cases)Amnendment Rules, 2018 (1.32 MB)Rule 2018
- In exercise of the powers conferred by sub section (1) of section 10B of the Chartered Accountants Act, 1949 (38 of 1949).Notification 2017
- Nomination of Members on QRB of ICAI.Notification 2017
- 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 (210 KB)Rule 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) Amendment Rules, 2006 (586 KB)Rule 2016
- Chartered Accountant Procedures of Meetings of Quality Review Board , and Terms and Conditions of Service and Allowances of the Chair Person and Members of the Board (Amendment Rules), 2016 (604 KB)Rule 2016
- In exercise of the powers conferred by sub section (1) of section 10B of the Chartered Accountants Act, 1949 (38 of 1949)Notification 2016
- Amendment to GSR 38 (E) dated 19th January, 2011 21/06/2012Notification 2012
- Amendment to SO 789 (E) dated 20th March, 2009Notification 2012
- Amendment to the Chartered Accountants (Election to the Council ) Rules, 2006Notification 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,2006Notification 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.Circular 2011
- Amendment made in the Charted Accountants Procedures and Terms & Conditions of Services and Allowances of the Chairpersons and members of Board Rules ,2006, in accordance with the power conferred by cl(f)and (g) of sub-section (2) of Section 29A of, rw Section 28C abd sub-section (1) of Section 28D of the Chartered Accountants Act, 1949 (38 of 1949)Notification 2009
- The Charted Accountants(Amendment) Act,1949-23.07.2008Notification 2008
- 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.Notification 2007
- Corrigendum G.S.R.225(E) ( English & Hindi version) (140 KB)Rule 2007
- The Chartered Accountants (Election to the Council) Rules, 2006 - (updated as on 1st October, 2020)Rule 2006
Questions about Section 3
What have the courts held on Section 3 of the Chartered Accountants Act?
Inst. of Chartered Accountants of India vs Shaunak H Sayta (02 Sep 2011) is the leading judgment on this section among those set out below: Establishment of ICAI as body corporate.
How do I find court cases under Section 3 of the Chartered Accountants Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Chartered Accountants Act 3, section 3 Chartered Accountants Act, section 3 of the Chartered Accountants Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Inst. of Chartered Accountants of India vs Shaunak H Sayta (02 Sep 2011).
What should I read with Section 3 of the Chartered Accountants Act, and has it changed?
6 other provisions in this corpus refer back to it. The rules and notifications made under it are where it actually bites, and there are 6: most recently Appointment of Chairperson in the Appellate under section 22A of CA, CS, CWA Act. (2016), then Appointment of Members on Election Tribunal of Institute of Chartered Accountants of India. (2016), and 4 more.
When did Section 3 of the Chartered Accountants Act come into force?
Section 3 of the Chartered Accountants Act, cited as Chartered Accountants Act 3, came into force on 01 Jul 1949, having been enacted on 01 May 1949. It is in force as at the date shown on this page.
Other sections of this Act
- 30. Power to make regulations824 words
- 2. Interpretation777 words
- 18. Finance of the Council513 words
- 4. Entry of names in the Register of members495 words
- 15. Functions of the Council337 words
- 12. President and Vice-President300 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 20 Oct 2026. This page is not a substitute for legal advice.