Cost and Works Accountants Act, 1959
24. Penalty for falsely claiming to be a
member, etc.
Any person who-
(i) not being a member of the Institute-
(a) represents that he
is a member of the Institute; or
(b) uses the
designation, cost accountant; or
(ii) being a member of the Institute, but not
having a certificate of practice, represents that he is in practice or
practices as a cost accountant;
shall be punishable on first conviction with
fine which may extend to one thousand rupees, and on any subsequent conviction
with imprisonment which may extend to six months, or with fine which may extend
to five thousand rupees, or with both.