All applications for Admission to Membership of the Institute shall be made to the Council in the form prescribed by the Council.

Fees for Membership

Subject to the provisions of section 14, a person who is eligible for membership of the Institute shall be enrolled as a member upon payment to the Council of an enrollment fee and an annual subscription, the amounts of which shall be prescribed by the Council from time to time by rules made under this Act.

All fees shall be paid to the Secretary to the Council.

All Annual Subscriptions payable under this section shall become due and payable on the first day of January in each year or, in the case of members admitted after the date, on the date of admission.

Classification and Styles of Membership

Persons who are enrolled or registered by the Council as Chartered Accountants shall be entitled to use the title and shall be entered on the Register as

• Fellows (FCA), if for the period of not less than five years immediately preceding the date of application for such enrollment, they have been enrolled as Associates of the Institute or other bodies approved by the Council, whether in private practice as Accountants or not and are otherwise fit and proper persons: or
• Associates (ACA), if they satisfy the Council that they have passed the examination prescribed or approved by the Institute, and have had such relevant experience in accountancy as may be prescribed by the Institute, and are otherwise fit and proper persons to be enrolled.

Every person shall, on applying for admission, sign an undertaking that he or she will, if admitted, and so long as he is a member, observe the Act, and the by-laws and the regulations for the time being in force and that, he or she will not use the designation or designatory letters referred to in Sections 5 & 6 of the Act, except while a member of the Institute. (By-Law….)

Retirement from and Forfeiture of Membership

Any member wishing to resign his membership shall tender written notice to the Council and on its acceptance his or her membership shall cease accordingly. Any member giving such notice shall remain liable to pay any subscription or other sums due from him or her at the date of such notice.

Provided that a member in respect of whom a compliant has been referred to a Disciplinary Committee shall not be entitled to resign his or her membership until the compliant has been finally disposed of by the Disciplinary Committee and the amount of any fine or costs imposed by the Disciplinary Committee has been paid in full. (Bye-Law….)