Section 12 of The Cost Accountants Act, 1959
- (1)The Council at its first meeting shall elect two of its members to be respectively the President and the Vice-President thereof, and so often as the office of the President or the Vice-President becomes vacant, the Council shall choose a person to be the President or the Vice-President, as the case may be: 1*****.
- (2)The President shall be the 2[Head] of the Council.
- (3)The President or the Vice-President shall hold office for a period of one year from the date on which he is chosen but so as not to extend beyond his term of office as a member of the Council, and, subject to his being a member of the Council at the relevant time, he shall be eligible for re-election 3[under sub-section (1)]: Provided that 4[the President and the Vice-President] of the Council at the time of the expiration of its duration shall continue to hold office until a new Council is constituted in accordance with the provisions of this Act.
Summary
- The Council elects a President and a Vice-President from among its members at its very first meeting.
- The President serves as the Head of the Council and presides over all its meetings.
- The President must ensure that all decisions taken by the Council are actually carried out.
- If the President is absent or unable to act, the Vice-President steps in to perform all presidential duties.
- Both officers hold office for one year, but their term cannot exceed their Council membership.
- The President and Vice-President continue in office past the Council's expiration until a new Council is formed.
Practical examples
FAQ
1. For how long do the President and Vice-President hold office?
They hold office for a period of one year from the date they are chosen, but this cannot extend beyond their term of office as a member of the Council.
2. What happens if the President is absent or unable to perform their duties?
The Vice-President acts in the President's place, exercising all their powers and performing their duties.
3. What happens when the duration of the Council expires?
The outgoing President and Vice-President continue to hold office until a new Council is constituted under the Act.
4. Who elects the President and Vice-President?
The Council elects them from among its own members at its first meeting, and chooses replacements as vacancies arise.
Test yourself
Q1.Under Section 12 of The Cost Accountants Act, 1959, at what point must the Council elect the President and Vice-President?
Q2.Under Section 12 of The Cost Accountants Act, 1959, what is the standard term of office for the President or the Vice-President from the date they are chosen?
Q3.Under Section 12 of The Cost Accountants Act, 1959, who is specifically charged with the duty of ensuring that Council decisions are implemented?
Q4.Under Section 12 of The Cost Accountants Act, 1959, what happens to the offices of the President and Vice-President when the Council's duration expires?