Sri Lanka Consolidated Acts

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Institute Of Chartered Accountants Act (No. 23 of 1959) - Sect 12

Power to make regulations

12.
(1) The Council may make regulations for or in respect of any matter required or authorized by this Act to be prescribed or of any matter relating to or connected with its powers, functions and duties under this Act or the proper exercise, discharge or performance thereof.
(2) Without prejudice to the generality of the provisions of subsection (1), the Council may make regulations in respect of all or any of the following matters:-
(a) the summoning and holding of meetings of the Council, the times and places of such meetings and the conduct of business thereat;
(b) the management of the property of the Council, the custody of its funds and the maintenance and audit of its accounts;
(c) the election or appointment by the Council of standing or other committees, the powers, functions and duties of such committees, and the conditions subject to which such powers may be exercised and such functions and duties performed;
(d) the powers, functions and duties of the Secretary and other officers of the Council and the salaries, fees, allowances and conditions of service of such officers and servants;
(e) the establishment and regulation of a Provident Fund for the benefit of the officers and servants and their dependants or nominees, and the contributions to be made by the Council and by such officers and servants to such Fund;
(f) the exercise of disciplinary control over officers and servants of the Council;
(g) the time and manner of the payment of enrolment, registration and renewal fees, the termination of membership upon failure to pay renewal fees and the conditions of restoration to membership in such cases;
(h) the fees to be paid to the Council by students admitted to the qualifying examinations or for courses of instruction provided by the Council, and the engagement and remuneration of lectures and examiners; and
(i) the grant of assistance, whether financial or otherwise, to societies of students.


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