Section 3: Council of Institute and membership, etc.

(1) There shall be as the governing body of the Institute, a Council charged with the administration and general management of the Institute, and the Council shall consist of a total of twenty persons, being fellows or associate members, as follows-
(a) five persons nominated by the Minister, of whom each shall be a chartered accountant whether in practice as an accountant or not; and
[1972 No. 30.]
(b) fifteen persons elected by the Institute of whom eight shall be members in practice as accountants.
[1972 No. 30.]
(2) The provisions of the First Schedule to this Act shall have effect with respect to the qualifications and tenure of office of members of the Council and the other matters there mentioned.
[First Schedule.]
(3) Regulations made by the Council with the approval of the Minister may provide for increasing or reducing the membership of the Council and may make such amendment to subsection (1) of this section and paragraph 1 of the First Schedule to this Act as the Minister considers expedient for the purposes of or in consequence of the increase or reduction.