Cost and Works Accountants Act, 1959
35A. Exemptions
(1) A candidate who is registered as a student prior to lst
July,1984, and who has passed,
(a) the Intermediate Examination of the
Institute of Chartered Accountants of India, England and Wales, Scotland or
Ireland or the Final Examination or Parts Ill and IV of the Examination of the
Institute of Cost and Management Accountants London, shall be exempted, from
the papers Advanced Accountancy and Taxation prescribed in Regulation 35.
(c) the Final Examination of the Institute of
Company Secretaries of India shall be entitled to exemption from the subjects
Advanced Accountancy Taxation, Financial Management, and Principles and
Practice of Management of the Final Examination held under Regulation 35.
(2) In the case of candidates registered as students on or after
lst July, 1984, the Council shall have the power to decide, and shall decide,
from time to time, the individual subjects from which exemption may be granted,
strictly on reciprocal basis to students who have passed such examinations of
such professional institutes /bodies in India or abroad, as may be recognized
by the council in this behalf.
(3) The council shall also have the power to decide, and shall
decide, the individual subjects/groups of the Final Examination from which a
candidate who is admitted as a fresh Registered Student under Regulation 25A
shall be exempted on the basis of exemption from individual subjects/Groups
previously secured by him under his former registration.
(4) The council shall also have the power to decide, and shall
decide, the individual subjects/Groups from which exemption shall be granted on
transitional basis due to commencement of syllabus prescribed in Regulation 34.
(5) The sub-regulations (1) and (4) of this Regulation shall cease
to operate from 31st October, 1986 and shall stand deleted from that date and
on such deletion the sub-regulations (2) and (3) of this Regulation shall be
re-numbered as sub-regulations (1) and (2) respectively, when this
sub-regulation shall also stand deleted and the Regulation 35A shall be
renumbered as Regulation 35.