Section 7: Constitution of the Council

1) A Council, to take up necessary actions required to attain the objectives of the Institute in a well-planned manner and to manage and supervise all activities of the Institute, shall be constituted.

2) The Council shall, except as otherwise provided elsewhere in this Act, exercise all authority and discharge all duties conferred on and assigned to the Institute subject to the Act, Regulations and Bylaws framed under this Act.

3) The Council shall consist of the following Council members:-

(a) Ten people elected by and amongst Chartered Accountant members -Member

(b) Four people elected by and amongst Registered Auditors -Member

(c) Three people nominated by the Government of Nepal, upon the recommendation of the Auditor General, from amongst people well experienced in the field of the accounting profession. -Member

4) The Council members shall elect a President and a Vice-President from the Fellow Chartered Accountants (F.C.A) Council members referred to in clause (a) of sub-section (3).

5) The term of office of the President and the Vice-President shall be of one year, and upon expiry of the term of office, they shall be eligible to be elected for one more term.

6) The term of office of the Council members shall be three years, and upon expiry of the term of office, they shall be eligible to be re-elected or re-nominated.

7) The procedures relating to the election of Council members shall be as prescribed.

8) The functions, duties and authorities of the President and the Vice-President shall be as prescribed.