1. A Member of the Institute shall not practice the Profession of Cost and Management Accountancy without having in force a Practicing Certificate issued by the Institute authorizing him or her to practice as a Professional Cost and Management Accountant.

2 The annual subscription payable by all classes of Members shall be such as may from time to time be determined by the Institute Council. All subscriptions shall become due and payable on the 1st January in each year or on such other date or dates in the year as the Council may determine.

3. Fees charged for Practicing Certificates shall be determined by the Institute’s Council.

4. If any Member shall become bankrupt or shall either individually or as a Partner in a Firm make or agree to make an assignment for the benefit of his/her Creditors, or shall make any arrangement or composition with his/her Creditors, or shall take or attempt to take the benefit of any Statutory provision for arrangement with his or her Creditors, he or she shall cease to be a Member, but at the discretion of the Institute Council he may be reinstated with or without new entrance fees or subscription.

The Council shall have the right to publish, in such newspaper or Institute’s journals as they may select, an announcement of Termination of Membership.