Chapter-12

Chapter-12 Miscellaneous
42. Formation of adhoc council:

(1) Notwithstanding anything contained elsewhere in this Act, pending the formation of the Council pursuant to Section 7, there shall be formed an ad hoc council consisting of the following members in order to perform the functions to be performed by the Council under this Act in relation to issue the membership registration
certificate by registering the name of a person who has the qualification to  become a member of the Institute and to hold election to the councilors
representing the members to the Council:
(a) Chairperson, Nepal Chartered Accountants Association -Chairperson
(b) Three persons nominated by Government of Nepal from amongst the auditors who have been registered as auditors under the Auditors Act,
2031 (1975) -Member
(c) Gazetted first class officer designated    by Government of Nepal -Member secretary
(2) The ad hoc Council formed pursuant to Sub-section (1) shall complete election to the councilors representing the members to the
Council no later than Six months after the date of the commencement of this Act.
(3) The ad hoc Council formed pursuant to Sub-section (1) shall determine the rules of procedures of its meetings and other modus operandi
on its own.
(4) The ad hoc council formed pursuant to Sub-section (1) shall ipso facto be dissolved upon the formation of the Council pursuant to Section 7. After the ad hoc council is so dissolved, all acts and actions done and taken by that ad hoc Council on behalf of the Council shall be deemed to have been done and taken by the Council itself.

43. Saving of act done in good faith: Any member of the Council or a committee of the Institute or secretary or employee of the Institute shall not be personally liable for any act and action done and taken in good faith in accordance with this Act or the Rules framed under this Act.

44. Delegation of power:

(1) The Council may delegate any or all of the powers conferred to it under this Act to any committee or the secretary, as per necessity.
(2) Any officer may so delegate any of the powers conferred to that officer under this Act to any officer employee who is subordinate to that officer as such powers are to be exercised under his or her general supervision.

45. Power to give direction:

(1) Government of Nepal may give necessary direction to the Council in relation to the activities of the Institute.
(2) The Auditor General may give necessary direction to the Council in relation to the development, protection and promotion of the accountancy.
(3) It shall be the duty of the Council to abide by the direction given by Government of Nepal or Auditor General pursuant to Sub-section (1) or (2).

46. Liaison with Government of Nepal: While making contact with Government of Nepal, the Institute shall do so through the Ministry of Finance.

47. Power to frame Rules:

(1) The Council may frame necessary Rules in order implement the objectives of this Act.
(2) Notwithstanding anything contained in Sub-section (1), where the Council is not formed pursuant to Section 7, the ad hoc council formed
pursuant to Section 42 for the purpose of giving certificate of registration of  membership of the Institute and holding election to the councilors may
frame necessary Rules.
(3) The Rules framed pursuant to Sub-sections (1) and (2) shall come into force only after being approved by Government of Nepal.
(4) The Rules framed by the ad hoc council pursuant to Sub-section (2) shall ipso facto be inoperative upon the coming into force of the Rules
framed by the Council pursuant to Sub-section (1).

48. Power to frame Bye-laws: The Council may, subject to this Act and the Rules framed under this Act, frame Bye-laws for the operation of the day-
to-day activities of the Institute.

49. Repeal and saving:

(1) Auditors Act, 2031 (1975) is, hereby, repealed.
(2) Where an auditor who is recognized by the Office of Auditor General under any law in force is recognized as a recognized auditor for the purpose of that law, such recognized auditor shall, after the commencement of this Act, be deemed to mean a member having the professional certificate under this Act