No. CMA (1)/2014: In exercise of powers conferred by Regulation 146 of the Cost and Works Accountants Regulations, 1959, the Council of the Institute of Cost Accountants of India hereby makes the following Bye-laws to amend further The Cost Accountants' Chapters Bye-laws, 2013 namely:-
1. These Bye-laws shall be called The Cost Accountants' Chapters (Amendment) Bye-laws, 2014.
2. They shall come into force with effect from 1st April, 2014.
3. In The Cost Accountants' Chapters Bye-laws, 2013 (herein after referred as the said Bye-laws), shall be read as follows:
10. Fees -
(1) A member or a Grad. CWA of the Institute shall not be eligible to be admitted as a member of the Chapter or continue to be a member of the Chapter unless the member or a Grad. CWA continues to be a member or a Grad. CWA of the Institute and is not a defaulter as on 1st day of April every year.
(2) A member or a Grad. CWA failing to pay his/her annual Institute’s membership fee, Grad. fee and other dues for a year on or before 30th of September of that year shall be deemed to have vacated his/her membership or Grad. CWA respectively.
(3) A member may restore his membership with the Institute and upon restoration of his membership with the Institute in prescribed manner, he may take fresh membership of the Chapter.