A person who has passed the Chartered Accountancy or similar examination from a foreign accounting professional organization and received training shall apply for the recognition of such examination and training as prescribed in the institution and if such application is made for recognition, the Council shall decide whether to grant recognition to such examination and training. .
(2) If the council determines that the applicant must fulfill any condition before granting recognition of the examination and training as per sub-section (1), such condition shall also be specified.
(3) If a condition is specified as required to be fulfilled according to sub-section (2), the application for the membership of the organization can be given only after such condition is fulfilled in accordance with this Act.