Power to make regulations

Section 30 of the Chartered Accountants Act, 1949 deals with power to make regulations. The Council may, by notification in the Gazette of India, make regulations for the purpose of carrying out the objects of this Act . The Act came into force on 01 Jul 1949.

(1) The Council may, by notification in the Gazette of India, make regulations for the purpose of carrying out the objects of this Act ¹***.

(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters:--

(a) the standard and conduct of examinations under this Act;

(b) the qualifications for the entry of the name of any person in the ²[Register of members] as a member of the Institute;

(c) the conditions under which any examination or training may be treated as equivalent to the examination and training prescribed for members of the Institute;

(d) the conditions under which any foreign qualification may be recognised;

(e) the manner in which and the conditions subject to which applications for entry in the ²[Register of members] may be made;

(f) the fees payable for membership of the Institute and the annual fees payable by associates and fellows of the Institute in respect of their certificates;

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(h) the particulars to be entered in the ²[Register of members];

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⁵[(j) the training of articled and audit ⁶[assistants], the fixation of limits within which premia may be charged from articled ⁶[assistants] and the cancellation of articles and termination of audit service for misconduct or for any other sufficient cause;]

(k) the regulation and maintenance of the status and standard of professional qualifications of members of the Institute;

(l) the carrying out of research in accountancy;

(m) the maintenance of a library and publication of books and periodicals on accountancy;

(n) the management of the property of the Council and the maintenance and audit of its accounts;

(o) the summoning and holding of meetings of the Council, the times and places of such meetings, the conduct of business thereat and the number of members necessary to form a quorum;

(p) the powers, duties and functions of the President and the Vice-President of the Council;

(q) the functions of the standing and other committees and the conditions subject to which such functions shall be discharged;

⁷[(r) the qualification required for the purposes of sub-section (3) of section 5;

(ra) the circumstances under which certificates of practice may be cancelled under sub-section (3) of section 6;

(rb) the guidelines for granting or refusal of certificates of practice under clause (f) of sub-section (2) of section 15;

(rc) the manner of appointment, powers, duties, functions, salaries, fees, allowances and other terms and conditions of service of the Secretary and other officers and employees of the Council under clause (c) of sub-section (2) of section 16;

(rd) the manner of preparing annual financial statement under sub-section (4) and the annual accounts under sub-section (5), of section 18;

(re) the manner of maintaining a Register of members of the Institute under sub-section (1) and the manner in which the annual list of members registered with the Institute shall be published under sub-section (3), of section 19;

(rf) the manner of making an application for grant of registration of a firm and the terms and conditions of such registration under section 20A;

(rg) the manner of maintenance of Register of firms, and other particulars including details of pendency of any actionable information or complaint or imposition of penalty against the firm under sub-section (1) and sub-section (2) and the manner in which the annual list of firms registered with the Institute shall be published under sub-section (3), of section 20B;

(rh) the manner of making available status of actionable information and complaints and orders passed under sub-section (9) of section 21;

(ri) the manner of preparing panel of persons under clauses (a), (b) and (c) of sub-section (1) and the allowances payable to the Presiding Officers and members of the Boards of Discipline under subsection (8), of section 21A;

(rj) the manner of preparing panel of persons under clauses (a), (b) and (c) of sub-section (1) and the allowances payable to the Presiding Officers and members of the Disciplinary Committees under sub-section (8), of section 21B;

(rk) the salaries and allowances and conditions of service of officers and other staff of Authority under sub-section (2) of section 22E;

(rl) the manner in which Regional Council may be constituted under sub-section (2) of section 23 and the functions thereof; and ]

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(t) any other matter which is required to be or may be prescribed under this Act.

(3) All regulations made by the Council under this Act shall be subject to the condition of previous publication and to the approval of the Central Government.

(4) Notwithstanding anything contained in sub-sections (1) and (2) the Central Government may frame the first regulations for the purpose mentioned in this section, and such regulations shall be deemed to have been made by the Council, and shall remain in force from the date of the coming into force of this Act, until they are amended, altered or revoked by the Council.

Section 30, The Chartered Accountants Act, 1949 (Act 38 of 1949).