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

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Power to grant diplomas, etc.

5.—(1) Without prejudice to the generality of the powers conferred upon the Institute by the Charter, the Institute shall have power, either alone or jointly with other professional bodies, to organise, finance, and maintain schemes for the granting of diplomas, certificates and other awards (with or without prior examination) to members of the Institute and of any other professional bodies which are parties to such schemes in any activities with which the accountancy profession is concerned and for the use of designatory letters by persons granted such diplomas, certificates and awards.

(2) No such scheme shall become operative unless and until it has been approved by a resolution of the members of the Institute at a meeting specially convened for the purpose by at least fourteen days' notice in writing.

(3) Subject to subsection (2) the powers conferred upon the Institute by this section shall be exercisable by the Council; and every such scheme shall be in such form as the Council considers appropriate and in particular may include provision for altering or adding to the scheme and to the regulations (if any) made thereunder for the purpose of implementing the same, but the Council shall not permit any such alteration or addition to be made which in the opinion of the Council would fundamentally alter the scheme as approved by the members of the Institute as aforesaid, except with the further approval of a resolution of the members of the Institute passed in manner aforesaid.