to the chartsred accounta~s (am81\ffit-aent) bill, 1969 ( to be/as introduced in lok sabha) 1 in th~ docket page for "chatrqred" read "chartered" new delhi; mar ch 10 1969 phaiguna l~, 1890 (saka)  the chartered accountants (amendment) bill, 1969 billfurther to amend the chartered accountants act, uh9 ba it enacted by parliament in the twentieth year of the republic of india as follows:-1 this act may be called the chartered accountants (amend- short ment) act, 1969 title s of 1"" 10 2 to sub-section (j) of section 12 of the chartered accouatants amid4-act, 1949, the following proviso shall be added, namely: -ment of iec:tion 12 "provided that the president shall, notwithltanding the expiration of his term of oftlce as president but subject to bis being a member of the councl1, continue to hold office as president until a new president shall have been elected and shall have taken over charge of his dutfet"  statement of objects and reasonsunder sub-section (3) of section 12 of the chartered accountantl act, 1949, the president of the council of the institute of chartered accountants of india shall hold oftice for a period of one year from the date on which he is elected by the council, but so u not to extend beyond his term of oftlce as a member of the council there is no provision in the act enabling the president to continue in office until his successor asswnes charge, if on account of unforeteell circumstances, the council is unable to meet and elect a new ~ dent before the expiry of the term of office of the president, there will arise a situation where the council will have no president such a situation will create a deadlock in the working of the council it is, therefore, considered necessary to provide in the act that the president shall continue in office until hill sucee&8of' assumes charge 2 the bill seeks to achieve the above object f akhruddin ali ahmbd nsw diaht; the 13th joftuqf'1/, 1 •  annexure bin'ltacts nom thi: ciwrrt!:iu!:d accountalmi act, 1", (33 of 1949) - chapter iii0011ncil of ,"{ii; institute - - - - - lz (1)    pcwent add vlce-pretfdent (j) the president or the vice-president shall hold oftlce for a period of one year from the date on which he is chosen but so u not to extend beyond his term of office as a member of the council, and subject to his being a member of the council at the rebwant time, be mall be eji«ible for re-election - - - - - 'a bill further to amend the dlatrered accountants act, 1949 (shri pakhruddin ali almud, minister of industrial dtif)elopment, intemai tralh and company ajlatrs) 