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Cost and Works Accountants Act, 1959

7. Fees

(1) Every person applying for membership of the institute shall pay an entrance fee of Rs. 300:

PROVIDED that an applicant may pay Rs. 100 along with his application and the balance of Rs. 200 in two installments of Rs. 100 each within the first 12 months and 24 months respectively from the date of his being enrolled as a member.

(2) Every associate applying for admission as a Fellow shall pay an entrance fee of Rs. 200.

(3) An associate shall pay an annual membership fee of Rs. 150 which shall be due and payable on the lst April in each year:

PROVIDED that only half the amount of the annual membership fee shall be payable for the first year by a person admitted on or after the lst October in any year.

(4) A fellow shall pay an annual membership fee of Rs. 300 which shall be due and payable on the lst April in each year:

PROVIDED that an associate who is admitted as a fellow during a year may pay Rs. 150 or Rs. 75 only as membership fee for that year accordingly as he is admitted as a fellow prior to the lst October, or after the lst October, of that year.

(5) Every member in practice shall pay an annual certificate fee of Rs. 100 which shall be due and payable on the lst April in each year.

(6) Effective from lst April l971, a member of not less than sixty years of age who has been a member of the institute for at least fifteen years, and who has retired permanently from professional work or business or from salaried employment, and who produces evidence to the. satisfaction of the council of his age and retirement, shall pay a reduced annual fee of Rs. 10 or Rs. 15, accordingly as at the time of his retirement he is an Associate or a fellow member.

(7) The non-payment of annual membership fee within six months from the date on which it becomes due will render the name of the defaulter liable to be removed from the Register of Members.



Cost and Works Accountants Act, 1959 Back




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