Chapter-4

Chapter-4  Membership of Institute
16. Membership of Institute:

(1) The membership of the Institute shall be divided into the following classes:
(a) Chartered accountant; and
(b) Registered auditors.
(2) The membership of chartered accountant shall, subject to Section  18, be given to a person having possessed the following qualification:
(a) One who has a certificate of registered auditor of class ‘A’ pursuant to the Auditors Act, 2031 (1975) or a  certificate of registered auditor of class ‘B” based on
the ground of having passed the chartered accountancy examination, at the time of the commencement of this Act.
(b) One who has passed the chartered accountancy examination or equivalent thereof from the Institute or any foreign other institute of chartered accountants
recognized by the Institute and obtained a professional training relating to the accountancy.
(3) The membership of registered auditor shall, subject to Section 16, be granted to a person who has obtained the certificate of auditor of  class ‘B’, ‘C’, or ‘D’ pursuant to the Auditors Act, 2031 (1975) at the time of the commencement of this Act.

17. Fellow chartered accountant (FCA): The membership of fellow chartered accountant may be granted to the following members in such manner as
prescribed:
(a) Those who have obtained the certificate of registered auditor of class ‘A’ pursuant to the Auditors Act, 2031 (1975), at the time of the
commencement of this Act;
(b) The chartered accountant members who have been engaged in the accountancy for at least Five years.

18. Disqualification for membership registration: The following person shall not be deemed to be qualified to be enrolled as a member of the Institute:
(a) One who has not the qualification referred to in Sub-sections (2) and
(3) of Section 16;
(b) One who has not attained the age of Twenty One years;
(c)
? …………….
(d) One who has become insolvent being unable to repay loan to creditors;
(e) One who has been convicted by the court of a criminal offence involving moral turpitude;
(f) One who is of unsound mind.

19. Name to be registered:

(1) A person who intends to become a member of the Institute and has possessed the qualification referred to in this Act shall submit an application setting out the details as prescribed to the Institute in the format as prescribed.
(2) The fees as prescribed shall be paid to have the name registered for the purpose of obtaining membership of the Institute pursuant to Sub-
section (1).
? (3) Where a person having possessed the qualification to obtain the  membership pursuant to Sub-section (3) of Section 16 desires to have his or
her name registered in the membership of the Institute, he or she shall submit an application to the Institute no later than Six months after the date
of the commencement of Sections 29 and 49 of this Act, by Government of Nepal upon notification in the Nepal Gazette. A person who fails to submit
an application for the membership within that period shall not be entitled to obtain the membership as referred to in this Act.

20. Certificate of membership registration:

(1) If a person making application under Sub-section (1) of Section 19 is found to be eligible to be enrolled as a member of the Institute, the Council shall register the name of such person in the membership of the Institute and grant the certificate of membership registration with setting out the class of member, in the format
as prescribed.
(2) The Institute shall maintain separate membership registration book as prescribed as per the class of membership.
(3) Other provisions relating to the registration of membership of the Institute shall be as prescribed.

21. To notify in the event of ceasing to carry on profession or changing address: Where a member ceases to practice his or her profession or
change his or her address, he or she shall notify the Institute thereof within Thirty-five days from the date on which he or she ceases to practice the
profession or changes the address.

22. Provision on removal and re-registration of name:

(1) The Council may issue an order to remove the name of any member from the membership register, in any of the following circumstances:
(a) If the member is convicted by a court of a criminal offence involving moral turpitude and punished for such offence;
(b) If the member fails to pay the fees required to be paid to the Institute;
(c) If the member fails to abide by the professional conduct referred to in this Act and the Rules framed under this Act;
(d) If the member becomes insane; or
(e) If the member dies.
(2) If a person whose name has been removed from membership pursuant to Sub-section (1) makes an application, accompanied by a reasonable ground, to again obtain membership, the Council may decide to grant membership, by re-registering his or her name, upon receipt of the fees as prescribed.

23. Certificate to be cancelled: Where an information is received that the name of any person has happened to be registered in the membership of the
Institute by fraud or mistake and such matter is found to be true upon holding an inquiry into the matter, the Council may cancel the membership registration certificate of such person, and also the accountancy certificate, if any, granted to such person; and a notice thereof shall be published in a newspaper