law: Cost and Works Accountants Act, 1959 
  12. President and Vice-President 
  (1) The Council at its first meeting shall
  
  elect two of its members to be respectively the President and the
  
  Vice-President thereof, and so often as the office of the President or the
  
  Vice-President becomes vacant, the Council shall choose a person to be the
  
  President or the Vice-President, as the case may be:
  PROVIDED  that on the first constitution of the
  
  Council a member of the Council nominated in this behalf by the Central
  
  Government shall discharge the functions of the President, until such time as a
  
  President is elected under the provisions of this sub-section.
  (2) The President shall be the Chief Executive
  
  Authority of the Council.
  (3) The President or the Vice-President shall
  
  hold office for a period of one year from the date on which he is chosen but so
  
  as not to extend beyond his term of office as a member of the Council, and
  
  subject to his being a member of the Council at the relevant time, he shall be
  
  eligible for re-election:
  PROVIDED  that the President of the Council at
  
  the time of the expiration of its duration shall continue to hold office until
  
  a new Council is constituted in accordance with the provisions of this Act.