7.
| (1) There shall be a Council of the Institute, in this Act referred to as "the Council ". |
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| (2) The Council shall consist of a President, a Vice-President and ten other members appointed or elected as hereinafter provided. |
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| (3) During the period of ten years commencing on the appointed date, the President, the Vice-President and the other members of the Council shall be appointed by the Minister, and of the members so appointed at least six shall be persons who are members of the Institute, of whom not more than four shall be practising accountants. |
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| (4) After the expiration of the period of ten years referred to in subsection (3), the President and the Vice-President of the Council shall be elected by the members of the Institute from themselves, and the remaining members of the Council shall consist of-
| | (a) six members appointed by the Minister, and | | |
| | (b) four members elected by the members of the Institute from among its members, of whom not more than three shall be practising accountants: | | |
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| (5) The elections under subsection (4) shall be conducted in accordance with such provisions in that behalf as may be made by the Minister by Order published in the Gazette. |
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Sri Lanka Consolidated Acts