23 October 2012
hello, I would like to know about Is there are any provosion for exemption for practising advocate in CS 15 months training. thanks in advance.
A candidate who has acquired practical experience as specified in [clause(a)]60 of Regulation 48 may be exempted, for a maximum period of one month in anyone of the three areas of Practical Training specified in clause (a) Regulation 50 and for a maximum period of fifteen days in a specialized agency as specified in clause (b) of Regulation 50, provided he gives documentary evidence to show that he has acquired substantial portion of his practical experience in that area.
Exemption from undergoing practical training except secretarial training programme:
A candidate may be exempted from undergoing practical training as specified in clause (a) of Regulation 50 and fifteen days in a specialized agency as specified in claus,e (b) of Regulation 50, if he possesses one year's experience as assistant secretary or any post higher thereto, in the secretarial department in a company or a body corporate having a paid-up Share capital and reserves of not less than rupees twenty-five lakhs or any Organisation having gross fixed assets of not less than rupees fifty lakhs including ,any public sector undertaking, autonomous body, financial institution of bank which in the opinion of the Council, provides scope for acquiring sufficient professional experience.
47. Practical Experience and Training A candidate who has passed the Final examination of the Institute shall be required to possess the practical experience and undergo the practical training or be exempted therefrom as specified in this Chapter for becoming eligible to Associate Membership of the Institute.
48. Practical Experience or Training
Every candidate registered as a student on or after the commencement of the Company Secretaries (Amendment) Regulations, 2001 (including a student registered de novo) and passing the Final examination of the Institute and every candidate registered as a student before the commencement of the said regulations and who has not completed the training in accordance with the regulations in force within five years of date of' his regIstration shall be required either: (a) to possess practical experience to the satisfaction of the Council in anyone of the following manners, namely: (i) One . year experience as an Assistant/Deputy Company Secretary or any other post higher thereto in the Secretarial Department or three years' experience as a Secretarial Officer/Executive in Secretarial Department in any company or body corporate having a paid-up share capital and reserves of not less than rupees twenty-five lakhs or any organization having gross fixed assets of not less than rupees fifty lakhs including any public sector undertaking, autonomous, or statutory body, financial institution or bank which in the opinion of the Council provides scope for acquiring sufficient professional experience; . (ii) two years' experience as an executive or three years' experience as an assistant under a Company Secretary in whole-time practice or in a firm of such , Company Secretaries, which in the opinion ,of the Council provides scope for acquiring sufficient professional experience; (iii) three years' experience of continuous practice on a whole-time basis as a Chartered Accountant or Cost Accountant having carried out statutory/cost/Internal audit or providing management consultancy services or three years' experience of continuous practice as an Advocate in a High Court h~ving rendered services as Counsel/Advisor to a Company having paid-up share capital and services of not less than rupees twenty-five lakhs or any organisation having gross fixed assets of not less than rupees fifty lakhs including any public sector undertaking, autonomous or statutory body, financial institute or bank which in the opinion of the Council provides scope for acquiring sufficient professional experience; (iv) three years' experience as an executive or four years' experience as an assistant in the secretarial, administration, accounts, finance, personnel or legal department in any company or body corporate having a paid-up share capital and reserves of not less that rupees twenty-five lakhs or any organisation having' fixed assets of not less than rupees fifty lakhs. including Central/State Government, any Public Sector Undertaking, autonomous or statutory body, financial institution, banking or insurance company which in the opinion of the Council provides scope for acquiring sufficient professional experience; (v) have acquired practical experience equivalent to those specified under clause (b) or clause (c) of this regulation in such profession Institutions in India ,or abroad as may be recognized by the Council in this behalf on reciprocal basis; . OR (b) to undergo training in the manner and areas specified by the Council for a period of fifteen months in a company having a paid-up share capital of not less than rupees fifty lakhs or any other institution or organisation as may be approved by the Council from timeto time; OR (c) to undergo training under a Company Secretary in whole-time practice or in a firm of such Company Secretaries as approved by the Council for a period of fifteen months on whole time basis working during normal working hours.
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