(1) No person who is not a chartered accountant or is not a practising accountant shall carry on practice as defined in section 23 of this Act.

(2) No person who is a chartered accountant or is a practising accountant shall practise as an accountant unless he is the holder of a certificate to practise which is for the time being in force.

(3) Every certificate to practise shall be issued by the Council upon payment of the prescribed annual subscription.

(4) Every certificate to practise shall be in force until the thirty-first day of December of the year of issue of that certificate, and may from time to time be renewed upon payment of the prescribed annual subscription.

(5) The preceding provisions of this section shall come into operation six months after the coming into force of this Act.