Cost and Works Accountants Act, 1959
30. 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 Work Accountants registered under the Companies Act, 1956 (1 of 1956), shall be dissolved and thereafter no person shall make, assert or take any claims, demand or proceedings against the dissolved company or against any officer thereof in his capacity as such officer except insofar 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.