Section 7
Subs. by Act 12 of 2022, s. 48, for “Register” (w.e.f. 10-5-2022).
7. Subs. by Act 12 of 2022, s. 48, for “Register” (w.e.f. 10-5-2022).
(3) A casual vacancy in the Council shall be filled by fresh election from the constituency concerned or by nomination by the Central Government, as the case may be, and the person elected or nominated to fill the vacancy shall hold office until the dissolution of the Council:
Provided that no election shall be held to fill a casual vacancy occurring within 1 [one year] prior to the date of the expiration of the duration of the Council, but such a vacancy may be filled by the nomination by the Central Government after consultation with the President of the Council.
(4) No act done by the Council shall be called in question on the ground merely of the existence of any vacancy in, or defect in the constitution of, the Council.
14. Duration and dissolution of Council . — (1) The duration of any Council constituted under this Act shall be 2 [four years] from the date of its first meeting.
(2) Notwithstanding the expiration of the duration of a Council (hereinafter referred to as the former Council), the former Council shall continue to exercise its functions under this Act until a new Council is constituted in accordance with the provisions of this Act, and on such constitution, the former Council shall stand dissolved.
3 [15. Functions of Council . — (1) The Institute shall function under the overall control, guidance and supervision of the Council and the duty of carrying out the provisions of this Act shall be vested in the Council.
(2) In particular, and without prejudice to the generality of the foregoing powers, the duties of the Council shall include —
(a) to approve academic courses and their contents;
(b) the prescribing of fees for the examination of candidates for enrolment;
(c) the prescribing of qualifications for entry in the 4 [Register of members];
(d) the recognition of foreign qualifications and training for the purposes of enrolment;
(e) the prescribing of guidelines for granting or refusal of certificates of practice under this Act;
5 [(ea) the granting or refusal, of registration of a firm;]
(f) the levy of fees from members, examinees and other persons;
(g) the regulation and maintenance of the status and standard of professional qualifications of members of the Institute;
(h) the carrying out, by granting financial assistance to persons other than members of the Council or in any other manner, of research in accountancy;
(i) to enable functioning of the Director (Discipline), the Board of Discipline, the Disciplinary Committee and the Appellate Authority constituted under the provisions of this Act;
(j) to enable functioning of the Quality Review Board;
5 [(ja) to issue guidelines for the purpose of carrying out the objects of this Act;
(jb) to conduct investor education and awareness programmes;
(jc) to enter into any memorandum or arrangement with the prior approval of the Central Government, with any agency of any foreign country, for the purpose of performing its functions under this Act;]
(k) consideration of the recommendations of the Quality Review Board made under clause (a) of section 29B 6 [and the details of action taken thereon in its annual report]; and
1. Subs. by Act 7 of 2006, s. 10, for “six months” (w.e.f. 8-8-2006).
2. Subs. by s. 11, ibid., for “three years” (w.e.f. 22-7-2007).
3. Subs. by s. 12, ibid., for section 15 (w.e.f. 17-11-2006).
4. Subs. by Act 12 of 2022, s. 49, for “Register” (w.e.f. 10-5-2022).
5. Ins. by s. 49, ibid. (w.e.f. 10-5-2022).
6. Subs. by s. 49, ibid ., for " , action taken thereon with a report to the Central Government within a period of three months, and their inclusion in the annual report" (w.e.f. 10-5-2022).
(l) to ensure the functioning of the Institute in accordance with the provisions of this Act and in performance of other statutory duties as may be entrusted to the Institute from time to time].
Roop's Law Assist