27 June 2012
4. in regulation 25D of the said regulations,- (i) in sub-regulation (1),- (a) after the words, “Central Government”, the words “or the State Government” shall be inserted; (b) after the words “as equivalent thereto”, the words “for the purposes of admission to graduation courses” shall be inserted. (ii) after sub-regulation (1), the following sub-regulations shall be inserted, namely:- “(1A) Any graduate or post graduate referred to in sub-clause (ix) of regulation 2 shall be exempted from passing the Common Proficiency Test under this regulation if such person is a - (i) graduate or post graduate in commerce having secured in aggregate a minimum of fifty-five per cent. of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University) by studying any three papers of 100 marks each out of Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics, Management (including Financial Management), Taxation (including Direct Tax Laws and Indirect Tax Laws), Costing, Business Administration or Management Accounting; or (ii) graduates or post graduates other than those referred to in clause (i), having secured in aggregate a minimum of sixty per cent. of the total marks or its equivalent grade in the examination conducted by any recognised University (including Open University); (1B) Any candidate who has passed the Intermediate examination conducted by the Institute of Cost and Works Accountants of India set up under the Cost and Works Accountants Act, 1959 (23 of 1959) or by the Institute of Company Secretaries of India set up under the Company Secretaries Act, 1980 (56 of 1980) shall also be exempted from passing the Common Proficiency Test under this regulation. Explanation.- For the purpose of sub-regulations (1A) and (1B),- (i) for calculating the percentage of marks, the marks secured in subjects in which a person is required by the University (including open University) to obtain only pass marks and for which no special credit is given for higher marks, shall be ignored; and (ii) any fraction of half or more shall be rounded up to the next whole number.”.
27 June 2012
[TO BE PUBLISHED IN THE GAZETTE OF INDIA , PART III, SECTION 4,
DATED 23RD FEBRUARY, 2012]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
New Delhi, the 23rd February, 2012
NOTIFICATION No.1-CA(7)/145/2012.- The following draft of certain regulations further to amend the Chartered Accountants Regulations, 1988, which the Council of the Institute of Chartered Accountants of India proposes to make, is hereby published, as required by sub-section (3) of section 30 of the Chartered Accountants Act, 1949 (38 of 1949) for the information of all persons likely to be affected thereby; and notice is hereby given that the said draft regulation shall be taken into consideration after the expiry of a period of forty-five days from the date on which the copies of the Gazette of India, in which these draft regulations are published, are made available to the public; Any person desiring to make any objection or suggestion in respect of the said draft regulations, may forward the same to the Council of the Institute of Chartered Accountants of India within the period so specified addressed to the Secretary, the Institute of Chartered Accountants of India, Indraprastha Marg, New Delhi – 110 002;
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