Constitution of the Council of the Institute

(1)

There shall be a Council of the Institute for the management of the affairs of the Institute and for discharging the functions assigned to it under this Act.

1 [(2) The Council shall be composed of the following persons, namely:--

(a)

not more than thirty-two persons elected by the members of the Institute from amongst the fellows of the Institute chosen in such manner and from such regional constituencies as may be specified:

Proviso

Provided that a fellow of the Institute, who has been found guilty of any professional or other

misconduct and whose name is removed from the 2 [Register of members] or has been awarded penalty of fine, shall not be eligible to contest the election,--

(i)

in case of misconduct falling under the First Schedule of this Act, for a period of 3 [four years];

(ii)

in case of misconduct falling under the Second Schedule of this Act, for a period of 4 [eight years, ]

from the completion of the period of removal of name from the 2 [Register of members] or payment of fine, as the case may be;

(b)

not more than eight persons to be nominated in the specified manner, by the Central

Government.]

5 [(3) No person holding a post under the Central Government or a State Government shall be eligible for election to the Council under clause (a) of sub-section (2) .

(4)

No 6 [member of the Institute or any partner of a firm] who has been auditor of the Institute shall be eligible for election to the Council under clause (a) of sub-section (2) , for a period of 7 [four years] after he ceases to be an auditor.]

1. Subs. by Act 9 of 2006, s. 6, for sub-section (2) (w.e.f. 5-9-2006).

2. Subs. by Act 12 of 2022, s. 8, for "Register" (w.e.f. 10-5-2022).

3. Subs. by s. 8, ibid ., for "three years" (w.e.f. 10-5-2022).

4. Subs. by s. 8, ibid ., for "six years" (w.e.f. 10-5-2022).

5. Ins. by Act 9 of 2006,s. 6 (w.e.f. 5-9-2006).

6. Subs. by s. 8, ibid ., for three years (w.e.f. 10-5-2022).

6. Subs. by Act 12 of 2022, s. 8, for person (w.e.f. 10-5-2022).