Executive Summary:
This document contains a draft of amendments to the Cost and Works Accountants Regulations, 1959, proposed by the Council of the Institute of Cost Accountants of India. The draft is published for public review, with a 45-day period for submitting objections or suggestions to the Council. The amendments will come into force after final publication in the Official Gazette.
Key Points / Main Content:
Proposed Amendments:
* These regulations may be called the Institute of Cost and Works Accountants Amendment Regulations, 2018
* The amendments relate to subregulation 6 of regulation 7 of the Institute of Cost and Works Accountants Regulations, 1959.
* The words "six months" shall be substituted with the words "eight months".
Notification and Review Process:
* The draft is issued under Section 39(3) of the Cost and Works Accountants Act, 1959.
* The public has 45 days from the date the Gazette of India is available to submit objections or suggestions.
* Submissions should be in writing and sent to the Secretary, The Institute of Cost Accountants of India, Kolkata.
Impact Analysis:
Public:
* Impact: The public is given the opportunity to review and comment on proposed changes to the regulations.
* Action Required: Review the draft regulations and submit any objections or suggestions in writing within 45 days to the specified address.
The Council of the Institute of Cost Accountants of India:
* Impact: The council is responsible for reviewing feedback and issuing the final regulations.
* Action Required: Review and consider any objections or suggestions received from the public within the specified timeframe before issuing the final regulations.
Key Entities Referenced
The Institute of Cost Accountants of India: An Indian professional accountancy body.
Cost and Works Accountants Regulations, 1959: Regulations governing cost and works accountants in India.
Cost and Works Accountants Act, 1959: An act of the Parliament of India to regulate the profession of cost and works accountants.
New Delhi: The location where the notification was issued.
Kolkata, West Bengal: City in West Bengal, India, where The Institute of Cost Accountants of India's office is located.
Gazette of India: Official journal of the Government of India, publishing notifications, acts, and regulations.
L. GURUMURTHY: Secretary of The Institute of Cost Accountants of India.
Institute of Cost and Works Accountants Amendment Regulations, 2018: Regulations to amend the Cost and Works Accountants Regulations.
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“आठ माह” से Aित(cid:17)थािपत (cid:4)कया जाएगा।
एल. गुXमूतY, सिचव (काय(cid:24)वाहक)
[िवZापन-III/4/असा./487/18]
242 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
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(2) (cid:4)दनाकं 25 मई, 1970 क7 अिधसूचना स\ं या सीडJ(cid:6)यूआर (2)/70
(3) (cid:4)दनाकं 22 जनवरी, 1972 क7 अिधसूचना सं\या सीडJ(cid:6)यूआर (2)/70
(4) (cid:4)दनाकं 6 जनवरी, 1981 क7 अिधसूचना सं\या सीडJ(cid:6)यूआर (1)/81
(5) (cid:4)दनाकं 31 जनवरी, 1989 क7 अिधसूचना सं\या सीडJ(cid:6)यूआर (1)/88
(6) (cid:4)दनाकं 25 िसतंबर, 1993 क7 अिधसूचना सं\या सीडJ(cid:6)यूआर (1)/93
(7) (cid:4)दनाकं 26 जून, 2002 क7 अिधसूचना स\ं या सीडJ(cid:6)यूआर (1)/2002
(8) (cid:4)दनाकं 27 माच(cid:24), 2003 क7 अिधसूचना स\ं या सीडJ(cid:6)यूआर (1)/2002
(9) (cid:4)दनाकं 17 नवंबर, 2008 क7 अिधसूचना सं\या सीडJ(cid:6)यूआर (1)/2008
(10) (cid:4)दनाकं 6 अAैल, 2009 क7 अिधसूचना स\ं या सीडJ(cid:6)यूआर (3)/2008
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THE INSTITUTE OF COST ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi, the 26th December, 2018
CWR(1) 2018.— The following draft of certain regulations further to amend the Cost and Works
Accountants Regulations, 1959, which the council of the Institute of Cost Accountants of India (hereafter
referred to as the Council) proposes to issue in exercise of the power conferred under sub-section(3) of section
39 of the Cost and Works Accountants Act, 1959 (23 of 1959), for the information of public likely to be
affected thereby, and notice is hereby given that the said draft notification shall be taken into consideration on
or after the expiry of period of forty-five days from the date on which the copies of the Gazette of India in
which these draft regulations are published are made available to the public.
Any person desiring to make any objection or suggestion in respect of the said draft regulations, may
forward the same in writing for consideration of the Council within the period so specified above to the
Secretary, The Institute of Cost Accountants of India, CMA Bhawan, 12, Sudder Street, Kolkata – 700 016.
Draft Regulations
1. (1) These regulation may be called the Institute of Cost and Works Accountants (Amendment)
Regulations, 2018
(2) They shall come into force on the date of their final publication in the Official Gazette.
2. In the Institute of Cost and Works Accountants Regulations, 1959, in sub-regulation (6) of regulation
7:- for the words “six months”, the words “eight months” shall be substituted.
L. GURUMURTHY, Secy. (Acting)
[ADVT.-III/4/Exty./487/18]
Note : The Principal regulations were published in the Gazette of India were first notified vide number
G.S.R. 611 dated the 25th May, 1959 and subsequently amended vide-¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
(1) Notification Number CWR (2)/69 dated 8th May, 1969
(2) Notification Number CWR (2)/70 dated 25th May, 1970
(3) Notification Number CWR (2)/70 dated 22nd January, 1972
(4) Notification Number CWR (1)/81 dated 6th January, 1981
(5) Notification Number CWR (1)/88 dated 31th January, 1989
(6) Notification Number CWR (1)/93 dated 25th September, 1993
(7) Notification Number CWR (1)/2002 dated 26th June, 2002
(8) Notification Number CWR (1)/2002 dated 27th March, 2003
(9) Notification Number CWR (1)/2008 dated 17thNovember, 2008
(10) Notification Number CWR (3)2008 dated 6th April, 2009
(11) Notification Number CWR (1) 2010 dated 4th February, 2011
(12) Notification Number CWR (1) 2012 dated 25th May, 2012
(13) Notification Number CWR (1) 2013 dated 29th November, 2013
(14) Notification Number CWR (2) 2013 dated 29th November, 2013
(15) Notification Number CWR (1) 2014 dated 12th November, 2014
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.