REGISTERED NO . DL-(N) 04/ 0007/2003-11
रजिस्ट्री सं० डी० एल०( एन) 04/0007/2003-11
भारत का राजपत्र The Gazette ofIndia
असाधारण
EXTRAORDINARY
भाग II - खण्ड 1
PART II - Section 1
प्राधिकार से प्रकाशित
PUBLISHED BY AUTHORITY
नई दिल्ली, शुक्रवार, जनवरी13 , 2012/ पौष 23, 1933 (शक) NEW DELHI , FRIDAY, JANUARY 13 , 2012/ PAUSA 23, 1933 (SAKA)
10] No. 10]
इस भाग में भिन्न पृष्ठ संख्या दी जाती है जिससे कि यह अलग संकलन के रूप में रखा जा सके ।
Separate paging is given to this Part in order that it may be filed as a separate compilation.
MINISTRY OF LAW AND JUSTICE
(LegislativeDepartment)
NewDelhi , 13th January, 2012 / Pausa 23, 1933 (Saka)
The following Act of Parliament received the assent of the President on the 12th January, 2012, and is hereby published for general information:-
THE COST AND WORKS ACCOUNTANTS (AMENDMENT) ACT, 2011
(No. 10 OF 2012)
[12th January, 2012. ]
AnAct further to amend the Cost and Works Accountants Act, 1959 .
BE it enacted by Parliament in the Sixty- second Year of the Republic of India as follows:-
1. (1) This Act may be called the Cost and Works Accountants (Amendment) Act, Short title and
commencement.
2011.
(2) It shall come into force on such date as the Central Government may, by notification inthe Official Gazette , appoint .
23 of 1959 .
section 2 .
2.Insection2 of the Cost and Works Accountants Act, 1959 ( hereinafter referred to as Amendment of the principal Act) ,- 2
THE GAZETTE OF INDIA EXTRAORDINARY
[PART II-
(i) insub -section ( 1 ) ,-
(1) after clause (e), the following clause shall be inserted , namely:-
'( ea) " firm " shall have the meaning assigned to it in section 4 of the Indian Partnership Act, 1932, and includes,-
9 of 1932 .
( i) the limited liability partnership as defined in clause (n ) of sub - section ( 1 ) of section 2 of the Limited Liability Partnership Act, 2008 ; or
6 of2009.
(ii) the sole proprietorship ,
registered with the Institute ;' ;
(II) in clause (1) , for the words " Institute of Cost and Works Accountants of India" , the words " Institute of Cost Accountants of India " shall be substituted;
(III) after clause (fa) , the following clauses , shall be inserted, namely:-
9 of 1932 . 6 of2009 .
'(fb) " partner " shall have the meaning assigned to it in section 4 of the Indian Partnership Act , 1932 or in clause (q) of sub - section ( 1 ) of section 2 of the Limited Liability Partnership Act, 2008, as the case may be;
(fc) "partnership " means-
(A) a partnership as defined in section 4 of the Indian Partnership Act , 1932; or
9 of 1932.
(B) a limited liability partnership which has no company as its Partner;';
(IV) after clause ( ia) , the following clause shall be inserted, namely:---
'(iaa) " sole proprietorship " means an individual who engages himself in the practice of cost accountancy or offers to perform services referred to in clauses ( ii) to ( iv) of sub - section (2);' ;
(ii) in sub- section (2),-
(a) after the words " in partnership with one or more members ofthe Institute in practice " , the words " or in partnership with members of such other recognised professions as may be prescribed " shall be inserted;
(b) in clause ( i), for the words " cost and works accountancy " , the words "cost accountancy " shall be substituted;
(c) inclause( ii) , for the words " certification of cost accounting and related statements or holds himself out to the public as a cost accountant in practice " , the words " certification or auditing of cost accounting and related statements or holds himself out to the public as a cost accountant in practice " shall be substituted .
Amendment of section 3 .
3. Insection 3 ofthe principal Act , in sub -section ( 1 ) , for the words " Institute of Cost and Works Accountants of India " , the words " Institute of Cost Accountants of India " shall besubstituted .
4. Insection 5 ofthe principal Act,-
Amendment of section 5 .
(a) in sub - section (2),-
(i) for the letters " AICWA " , the letters " ACMA " shall be substituted;
(ii) for the words " Institute of Cost and Works Accountants " , the words " Institute of Cost Accountants of India " shall be substituted;
THE GAZETTE OF INDIA EXTRAORDINARY
3
SEC. 1 ]
(b) insub - section (5),-
(i) for the letters " FICWA " , the letters " FCMA " shall be substituted;
(ii) for the words " Institute of Cost and Works Accountants " , the words " Institute of Cost Accountants of India " shall be substituted.
Amendment of section 22A .
5. In section 22A of the principal Act, for the words " Institute of Cost and Works Accountants of India " , the words " Institute of Cost Accountants of India " shall be substituted .
section 25.
6. In section 25 of the principal Act , in sub - section ( 1) , in clause ( iii) , for the words Amendment of "cost and works accountants " , the words " cost accountants " shall be substituted .
section 26.
7. In section 26 ofthe principal Act , in sub - section ( 1 ), the following Explanation shall Amendment of be inserted, namely:-
'Explanation . For the removal of doubts , it is hereby declared that the "company " shall include any limited liability partnership which has company as its partner for the purposes of this section .' .
Amendment of First Schedule .
8. In the First Schedule to the principal Act, in Part I , in item (7), for the words "Institute of Cost Accountants of India " , the words " Institute of Cost Accountants of India " shall be substituted .
V. K. BHASIN,
Secy. to the Govt. ofIndia .
PRINTED BY DIRECTORATE OF PRINTING AT GOVERNMENT OF INDIA PRESS, MINTO ROAD, NEW DELHI AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS , DELHI , 2012 .
GMGIPMRND- 3825GI- 14.01.2012 .