 the chartered accountants (amendment) bill, 1955 'as introduced in lok sabra) the chartered accountants (amendment) bill, 1955 (as introduced in lok sabra) a billfurther to amend the chartered accountants act, 1949 be it enacted by parliament in the sixth year of the republic of india as follows:-1 this act may be called the chartered accountants (amend- short title ment) act, 1955 5 10 is 2 in section 4 of the chartered accountants act, 1949, for clause ~~dt (v) of sub-section (1), the following clause shall be substituted, name- act ectlon 4, ly: -xxxviii of 1949· u(v) any person who has passed such other examination and completed such other training without india as is recognised by the central government or the council as being equivalent to the examination and training prescribed for members of the institute: provided that in the case of any person who is not permanently residing in india, the central government or the council, as the case may be, may impose such further conditions as ifj;jmjjl ft~  statement of objects and reasonsclause (v) of sub-section (n of section 4 of the chartered accountants act, 1949, empowers the council of the institute of chartered accountants of india to recognise examinations and training conducted outside india as equivalent to those prescribed for members of the institute for purposes of enrolment on its register since such recognition is generally to be granted only on a reciprocal basis, it is considered necessary, on grounds of public policy, that the central government should also have similar power for recognising foreign qualifications as equivalent to indian ones it is, therefore, proposed to amend the clause referred to so as to vest the central government also with power to recognise foreign qualifications for purposes of enrolment on the register of the institute c d deshmukh new delhi; the 8th july, 1955  annexureextract from the chartered accountants ac:r, 1949 (xxxviii of 1949) - - - - - ~  (1) any of the following persons shall be entitled to have his bntrj of name entered in the register, namely: -diiaci id the - - - - - (v) any person who has passed such other examination and completed such other training without india as is recognised by the council as equivalent to the examination and training prescribed for members of the institute: provided that in the case of any person who is not permanently residing in india, the council may prescribe such further conditions as it may think fit; - - - - -  a billfurther to amend the chartered accountants act, 1949 (shri c d deshmukh, minister of finance) 