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Section 30: Dissolution of the Institute of Cost and Works Accountants registered under the Companies Act, 1956 · Complied AI

Section 30Chapter 8

Dissolution of the Institute of Cost and Works Accountants registered under the Companies Act, 1956

On the commencement of this Act,--

(a)

the company known as the Institute of Cost and Works Accountants registered under the

Companies Act, 1956 (1 of 1956), shall be dissolved and thereafter no person shall make, assert or

take any claims, demands or proceedings against the dissolved company or against any officer thereof

in his capacity as such officer except in so far as may be necessary, for enforcing the provisions of

this Act;

(b)

the right of every member to or in respect of the dissolved company shall be extinguished, and

thereafter no member of that company shall make, assert or take any claims or demands or

proceedings in respect of that company except as provided in this Act.