The Institute of Chartered Accountants in Ireland (Charter Amendment) Act, 1966

Admission to fellowship.

2.—(1) Subject to the following subsections of this section, the Institute shall have power to make bye-laws prescribing examinations which must be passed or qualifications which must be acquired as a condition for admission to fellowship of the Institute and, notwithstanding anything contained in the Charter, no person shall, after such bye-laws shall have been made, be admitted to fellowship except in conformity with such bye-laws.

(2) Any bye-laws made for the purpose of this section shall not have effect unless they have been approved by the Council and adopted by a resolution passed by not less than three-fourths of such members as, being entitled to do so, vote at a general meeting of the Institute of which at least fourteen days' notice, specifying the intention to propose the resolution, has been duly given.

(3) Notwithstanding anything contained in the Charter or in any bye-law made for the purpose of this section, any of the following persons who is a member of the Institute and whom the Council in its discretion consider to be a fit and proper person for admission to fellowship, may be admitted to fellowship without examination or other qualification:

(a) any person in practice as an accountant who is a member of the Institute on the operative date and has been continuously in practice (whether before or after the operative date) for not less than five years;

(b) any person who is a member of the Institute on the operative date and has been a member (whether of the Institute or of the former Society of Incorporated Accountants) for not less than ten years;

(c) any member of the Institute whom the Council considers to have rendered outstanding services as a chartered accountant.