Direct entry to chartered accountancy for graduates

Naveen.N (student) (1021 Points)

03 August 2012  

 

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ANNOUNCEMENT
2nd August, 2012
DIRECT ENTRY TO CHARTERED ACCOUNTANCY
COURSE – AMENDMENTS TO THE CHARTERED
ACCOUNTANTS REGULATIONS, 1988
This is to inform all concerned that with the issuance of the Notification
No. 1-CA(7)/145/2012 on August 1, 2012, the provisions relating to Direct
Entry Scheme for Graduates/Post Graduates, etc., with prescribed percentage
of marks, to the Chartered Accountancy Course have come into force from
August 1, 2012. The said Notification is reproduced hereinbelow for
information of all concerned.
Interested persons/students, i.e., freshers and existing students are
advised to watch for the details of registration formalities and of transitional
scheme including fee payable, registration form which will be
announced/published by around August 16, 2012.
…………………………………..
[PUBLISHED IN PART III, SECTION 4 OF THE GAZETTE OF
INDIA, EXTRAORDINARY DATED, THE 1ST AUGUST, 2012]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
New Delhi, the 1st August, 2012
NOTIFICATION
NO.1-CA(7)/145/2012.- Whereas certain draft regulations further to amend the
Chartered Accountants Regulations, 1988, were published as required by sub-section
(3) of section 30 of the Chartered Accountants Act, 1949 (38 of 1949), in the
notification of the Institute of Chartered Accountants of India No. 1-CA(7)/145/2012,
dated the 23rd February, 2012, in the Gazette of India, Extraordinary, Part III,
Section 4, dated the 23rd February, 2012, inviting objections and suggestions from
persons likely to be affected thereby, before the expiry of forty-five days from the
date on which the copies of the Gazette containing the said notification were made
available to the public;
And whereas the copies of the said Gazette were made available to the public
on the 28th February, 2012;
And whereas the objections and suggestions received from the public on the
said draft regulations have been considered by the Council of the Institute;
Now, therefore, in exercise of the powers conferred by sub-section (1) of
section 30 of the said Act, the Council, with the approval of the Central Government,
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hereby makes the following regulations further to amend the Chartered Accountants
Regulations, 1988, namely:-
1. (1) These regulations may be called the Chartered Accountants
(Amendment) Regulations, 2012.
(2) They shall come into force on the date of their publication in the
Official Gazette.
2. In the Chartered Accountants Regulations, 1988, (hereinafter referred to as
the said regulations), in regulation 2, in sub-regulation (1),-
(i) after clause (xiii), the following clause shall be inserted, namely:-
`(xiii a) “rules” means the rules made by the Central Government
under the Act;’;
(ii) in clause (xv), for the words “or any Deputy”, the words “or any
Additional or Joint or Deputy” shall be substituted.
3. In regulation 25C of the said regulations, for the words “Common Proficiency
Test” wherever they occur, the words “Common Proficiency Course” shall
respectively be substituted.
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) graduate or post graduate 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).
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(1B) Any candidate who has passed the Intermediate examination conducted
by the Institute of Cost 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 purposes 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.”.
5. In regulation 28C of the said regulations,-
(a) for the words “Professional Competence Examination” wherever they
occur, the words and brackets “Intermediate (Professional
Competence) Examination” shall respectively be substituted;
(b) in sub-regulation (1),-
(i) in clause (a),-
(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) (a) in clause (b), for the word “worked”, the word “served”
shall be substituted;
(b) after the words “examination is held”, the words “and
has been so continuing on the first day of the said month”
shall be inserted;
(iii) in the second proviso, after the words, brackets and letters “to
appear in the Professional Education (Examination-II)”, the
words, brackets and letter “and he fulfils the condition laid
down under clause (b)” shall be inserted.
6. In regulation 28D of the said regulations, -
(a) for the words “Integrated Professional Competence Course” wherever
they occur, the words and brackets “Intermediate (Integrated
Professional Competence) Course” shall respectively be substituted;
(b) for sub-regulation (2), the following sub-regulation shall be
substituted, namely:-
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“(2) No candidate shall be eligible for enrolment to any of the level
of the Intermediate (Integrated Professional Competence)
Course, unless he –
(a) has passed the Common Proficiency Test held under
these regulations and Senior Secondary Examination
(10+2 examination) conducted by an examining body
constituted by law in India or an examination
recognised by the Central Government or the State
Government as equivalent thereto for the purposes of
admission to graduation courses; or
(b) has been exempted from passing Common Proficiency
Test under regulation 25D.”;
(c) after sub-regulation (2), the following sub-regulation shall be inserted,
namely:-
“(2A) Notwithstanding anything contained in sub-regulation (2), a candidate
who is pursuing the final year of graduation course shall be provisionally
registered to the Intermediate (Integrated Professional Competence) Course
which shall be confirmed only on submission of satisfactory proof of having
passed the graduation examination with the minimum marks as provided in
sub-regulation (1A) of regulation 25D within such period not exceeding six
months as may be decided by the Council, from the date of appearance in
the final year graduation examination:
Provided that if such candidate fails to produce the proof within the
aforesaid period, his provisional registration shall be cancelled and the
registration fee or the tuition fee, as the case may be, paid by him shall not
be refunded and for the purpose of these regulations no credit shall be given
for the theoretical education undergone.”.
7. In regulation 28E of the said regulations, -
(a) for the words “Integrated Professional Competence Examination”,
“Integrated Professional Competence Course” and “Professional Competence
Examination” wherever they occur, the words and brackets “Intermediate
(Integrated Professional Competence) Examination”, “Intermediate
(Integrated Professional Competence) Course” and “Intermediate
(Professional Competence) Examination” shall respectively be substituted;
(b) in sub-regulation (1), after clause (b), the following proviso shall be
inserted, namely,-
“Provided that a candidate who has been exempted from passing Common
Proficiency Test under sub-regulation (1A) of regulation 25D and enrolled for
the Intermediate (Integrated Professional Competence) Course shall be
eligible to appear in the examination on completion of nine months of
practical training under regulation 50.”;
8. In regulation 29B of the said regulations, after the words “Professional
Competence Examination” wherever they occur, the words and brackets “or
the Intermediate (Professional Competence) Examination” shall respectively
be inserted.
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9. In regulation 29C of the said regulations, -
(A) in sub-regulation (1),-
(i) in clause (i),-
(a) for the words “Professional Competence Examination”, the
words and brackets “Intermediate (Professional Competence)
Examination” shall be substituted;
(b) the word “and” occurring at the end, shall be omitted;
(ii) in clause (ii), after the words “examination is held”, the words “or has
been serving the last six months of practical training under regulation
50 on the first day of the month in which the examination is held”
shall be inserted;
(iii) after clause (ii), the following clauses shall be inserted, namely:-
“(iii) he produces a certificate to the effect that he has
undergone a study course for such period, as on the
first day of the month in which examination is held, in
such manner as may be decided by the Council from
time to time; and
(iv) completed the Advanced Course on Information
Technology Training under these regulations for such
period and in such manner as may be decided by the
Council, from time to time.”;
(iv) for the proviso, the following proviso shall be substituted, namely:-
“Provided that a candidate who has passed Professional
Education (Examination-II) under the syllabus as decided by the
Council under sub-regulation (5) of regulation 28B and has completed
the practical training as is required for admission as a member on or
before the last day of the month preceding the month in which the
examination is held or has been serving the last twelve months of
practical training including excess leave, if any, on the first day of the
month in which the examination is held and has completed the said
study course and Advanced Course on Information Technology
Training, shall be admitted to the Final Examination.”;
(B) in sub-regulation (2),-
(a) after the words “Integrated Professional Competence
Examination”, the words and brackets “or Intermediate
(Integrated Professional Competence) Examination” shall be
inserted;
(b) after the words “examination is held” occurring at the end, the
words “and has completed the aforesaid study course and
Advanced Course on Information Technology Training” shall be
inserted.
10. In regulation 31 of the said regulations, -
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(i) in clause (ii), for the words “Professional Competence Examination”,
the words and brackets “Intermediate (Professional Competence)
Examination” shall be substituted;
(ii) in clause (iii), for the words “Integrated Professional Competence
Course”, the words and brackets “Intermediate (Integrated
Professional Competence) Course” shall be substituted.
11. For regulation 36A of the said regulations, the following regulation shall be
substituted, namely:-
“36A Requirement for passing Common Proficiency Test.-- A candidate for
the Common Proficiency Test shall ordinarily be declared to have passed the
test if he obtains at one sitting a minimum of thirty per cent. marks in each
section and a minimum of fifty per cent. marks in the aggregate of all the
sections, subject to the principle of negative marking, in such manner as may
be determined by the Council, from time to time.
Explanation.- For the removal of doubt, it is hereby declared that the
provisions of this regulation shall apply to a Common Proficiency Test held on
or after the commencement of the Chartered Accountants (Amendment)
Regulations, 2012.”.
12. In regulation 37B of the said regulations, for the words “Professional
Competence Examination” wherever they occur, the words and brackets
“Intermediate (Professional Competence) Examination” shall respectively be
substituted.
13. In regulation 37C of the said regulations, -
(i) for the words “Integrated Professional Competence Examination”
wherever they occur, the words and brackets “Intermediate
(Integrated Professional Competence) Examination” shall respectively
be substituted;
(ii) for the words “Professional Competence Examination” wherever they
occur, the words and brackets “Intermediate (Professional
Competence) Examination” shall respectively be substituted;
(iii) in sub-regulation (2), clause (a) shall be omitted.
14. In regulation 40 of the said regulations, -
(i) for the words “Professional Competence Examination”, the words and
brackets “Intermediate (Professional Competence) Examination” shall
be substituted;
(ii) for the words “Integrated Professional Competence Examination”, the
words and brackets “Intermediate (Integrated Professional
Competence) Examination” shall be substituted.
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15. In regulation 43 of the said regulations, –
(i) after sub-regulation (2), the following sub-regulation shall be
inserted, namely:-
“(2A) A member in full time employment with a firm of chartered
accountants shall be entitled to train one articled assistant provided he has
been in employment with the same firm for a continuous period of three
years.”;
(ii) in sub-regulation (3), clause (i) shall be omitted.
16. In regulation 45 of the said regulations,-
(i) for the words “Integrated Professional Competence Course” wherever
they occur, the words and brackets “Intermediate (Integrated
Professional Competence) Course” shall be substituted;
(ii) in sub-regulation (1), in clause (b), -
(a) for sub-clause (i), the following sub-clause shall be substituted,
namely:-
“(i) has passed the Professional Education (Examination-II) or
has passed Group I level or Accounting Technician level of
Intermediate (Integrated Professional Competence) Examination held
under these regulations or has been exempted from passing Common
Proficiency Test under sub-regulation (1A) of regulation 25D; and”;
(b) in sub-clause (ii), after the words “so specified”, the word
“and” shall be inserted;
(c) after sub-clause (ii), the following sub-clause shall be inserted,
namely:-
“(iii) has completed the Orientation Course for such period and in
such manner and within such time as may be decided by the Council
from time to time.“;
(iii) in sub-regulation (2),
(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.
17. In regulation 50 of the said regulations, --
(i) in the third proviso, for the words “Professional Competence
Examination”, the words and brackets “Intermediate (Professional
Competence) Examination” shall be substituted;
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(ii) for fourth Proviso, the following provisos shall be substituted,
namely:-
“Provided also that a candidate enrolled for the Intermediate
(Integrated Professional Competence) Course shall be eligible to three
years of articles training on his passing the Group I level or
Accounting Technician level of the Intermediate (Integrated
Professional Competence) Examination:
Provided also that a candidate who is a graduate or post
graduate and has been exempted from passing the Common
Proficiency Test shall be eligible to three years of articles training on
his registration to the Intermediate (Integrated Professional
Competence) Course.”.
18. In regulation 51 of the said regulations, in sub-regulation (1), for the words
“Professional Competence Examination”, the words and brackets
“Intermediate (Professional Competence) Examination” shall be substituted.
19. After regulation 51B of the said regulations, the following regulation shall be
inserted, namely:-
“51C. Advanced Course on Information Technology Training. - A candidate
shall undergo an Advanced Course on Information Technology Training as
may be determined by the Council which shall not be less than one hundred
hours and not more than five hundred hours and in such manner and within
such time as may be determined by the Council from time to time.”.
20. In regulation 69 of the said regulations,-
(a) in sub-regulation (1), in clause (b), for sub-clauses (ii) and (iii), the
following sub-clauses shall respectively be substituted, namely:-
“(ii) has passed the Professional Education (Examination-II) or
Group I level or Accounting Technician level of Intermediate
(Integrated Professional Competence) Examination held under
these regulations or has been exempted from passing the
Common Proficiency Test under sub-regulation (1A) of
regulation 25D; and
(iii) has successfully completed computer training programme or
Information Technology Training, for such period, in such
manner and within such time as may be decided by the
Council from time to time; and”
(b) after sub-clause (iii), the following sub-clause shall be inserted,
namely:-
“(iv) has completed the Orientation Course for such period, in such
manner and within such time as may be decided by the
Council from time to time.“.
21. In regulation 72 of the said regulations, in sub-regulation (1), for the words
“Professional Competence Examination”, the words and brackets
“Intermediate (Professional Competence) Examination” shall be substituted.
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22. After regulation 72B of the said regulations, the following regulation shall be
inserted, namely:-
“72C. Advanced Course on Information Technology Training. - A candidate
shall undergo the Advanced Course on Information Technology Training as
may be determined by the Council which shall not be less than one hundred
hours and not more than five hundred hours and in such manner and within
such time as may be determined by the Council from time to time.”.
23. In regulation 127 of the said regulations, in sub-regulation (1), for item 4, the
following item shall be substituted, namely:-
“4. The States of Bihar, Chhattisgarh, Jharkhand, Madhya
Pradesh, Rajasthan, Uttarakhand and Uttar Pradesh.”.
24. In regulation 130 of the said regulations, in sub-regulation (2), -
(i) in clause (xvii), the word “and” occurring at the end shall be omitted;
(ii) after clause (xvii), the following clauses shall be inserted, namely:-
“(xvii a) to publish Newsletter for dissemination of useful
information;
(xvii b) to conduct Continuing Professional Education
Programmes on topics of professional relevance; and”.
25. In regulation 134 of the said regulations,-
(i) in sub-regulation (1), -
(a) for the words “April of the year”, the words “April of the
financial year” shall be substituted;
(b) after the proviso, the following provisos shall be inserted,
namely:-
“Provided further that, if the professional address is not borne
on the Register on the relevant date, the residential address borne on
the Register shall determine his regional constituency:
Provided also that, in the case of a member having his
professional address outside India and eligible to vote, his regional
constituency shall be determined according to his professional address
in India registered immediately before he went abroad or the
residential address in India borne on the Register on the relevant
date, whichever is later.”;
(ii) in sub-regulation (2),--
(a) for the words “April of the year”, the words “April of the
financial year” shall be substituted;
(b) for the words “on the date of election”, the words “on the last
date of scrutiny of nominations” shall be substituted;
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(c) the following provisos shall be inserted, namely:-
“Provided that no person shall be eligible to stand for
election to a Regional Council, if–
(a) he is holding a post under the Central Government or
State Government;
(b) he is or has been elected as a member to Regional
Council for more than three consecutive terms; or
(c ) he is or has been elected as the Chairman under
regulation 137:
Provided further that, no person who has been found
guilty of any professional or other misconduct and whose
name is removed from the Register or has been awarded
penalty of fine, shall be eligible to stand for election to a
Regional Council,–
(i) in case of misconduct falling under the First Schedule
to the Act, for a period of three years;
(ii) in case of misconduct falling under the Second
Schedule to the Act, for a period of six years,
from the completion of the period of removal of name from the
Register or payment of fine, as the case may be:
Provided also that, no person who has been auditor of
the Regional Council shall be eligible to stand for election to a
Regional Council for a period of three years after he ceases to
be the auditor of that Regional Council.”;
(iii) in sub-regulation (3), for the words and figures “under regulation 85”,
the words, figures and brackets “under rule 8 read with Schedule 3 to
the Chartered Accountants (Election to the Council) Rules, 2006” shall
be substituted;
(iv) for sub-regulation (4), the following sub-regulation shall be
substituted, namely:-
“(4) (i) At least three months before the date of election, the
Council shall publish, for each regional constituency, a list of members
eligible to vote showing distinctly and separately -
(a) whether the voter is an associate or a fellow;
(b) the address of each member as determined under subregulation
(1) for deciding the eligibility of the member
to vote;
(c) in the case of a voter residing outside India, in addition
to his address in India under sub-clause (b), his
address outside India if furnished to the Institute by
the voter concerned;
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(d) details of internet address or e-mail address as
furnished by a voter to the Institute, provided an
express consent is given by the voter for its inclusion in
the list of voters;
(e) the manner in which the voter shall exercise his
franchise; and
(f) in case the voter is to exercise his franchise at a polling
booth, the number and address of the polling booth, at
which the franchise shall be exercised.
(ii) Subject to the provisions of these regulations, the address of a
member published in the list of voters for determining the
manner in which he shall be entitled to cast his vote, the
constituency and the polling booth to which he shall belong for
the purpose of casting his vote, shall be final.
(iii) The inclusion of the name of a member in the list of members
eligible to vote shall not confer an absolute right to vote at the
election which shall be subject to the other provisions of these
regulations, the Act and the rules made thereunder.
(iv) The list of members eligible to vote shall be made available at
the Headquarters of the Regional Council and its branches on
payment of such price as may be fixed by the Council.
(v) An announcement about the availability of the list, shall be put
on the website of the Regional Council, the notice board of the
Regional Council, as well as the notice board of the branches
of the Regional Council, wherever these exist.
(vi) If a clerical mistake or omission is detected in the list of
members eligible to vote, the Secretary may rectify such
mistake at any time by issue of a suitable corrigendum.”;
(v) in sub-regulation (6), -
(i) in clause (i), for the words “appropriate form”, the words
“form approved by the Council” shall be substituted;
(ii) for clause (ii), the following clauses shall be substituted,
namely:-
“(ii) delivered along with requisite fees, security deposit and
other papers required for the purpose in the form
approved by the Council to the Secretary by name not
later than 6 P.M. on the notified date:
Provided that no nomination delivered after the last
date and time notified for the election shall be entertained by
the Panel for scrutiny of nominations.
(iii) An acknowledgement of delivery shall be issued by the
Secretary or by a person authorised by him on receipt
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of nomination form mentioning the time and date of
receipt of nomination form.”;
(vi) after sub-regulation (6), the following sub-regulation and Explanation
shall be inserted, namely:-
“(6A) The nomination shall be valid only if it is accompanied by a
statement signed and verified by the candidate containing the
information called for.
Explanation.– For the purpose of this sub-regulation, a valid
nomination means a nomination which contains all the
particulars called for through the nomination form and
incomplete nomination without one or more particulars shall
liable to be rejected.”;
(vii) in sub-regulation (7), for the words “one thousand rupees”, the words
“twenty-five thousand rupees” shall be substituted;
(viii) after sub-regulation (7), the following sub-regulation shall be inserted,
namely:-
“(7A) A candidate for election, in addition to fee as provided in this
Chapter shall pay, irrespective of the number of nominations filed, an
amount of ten thousand rupees as security deposit, which shall be
forfeited if he fails to secure not less than one per cent. of the original
votes polled in the concerned regional constituency.”;
(ix) in sub-regulation (8), for the words “in consultation with and
approval”, the words “with the prior approval” shall be substituted;
(x) after sub-regulation (9), the following sub-regulation shall be inserted,
namely:-
”(9A) At the time of giving his decision, the President may -
(a) dismiss the dispute referred to him under subregulation
(9);
(b) declare the election of all or any of the elected
candidates to be void;
(c) declare the election of all or any of the elected
candidates to be void and declare the applicant or any
other candidate to have been duly elected; or
(d) may pass such order as to costs as he may consider
appropriate.”;
(xi) in sub-regulation (10), for the words and figures “prescribed in
Chapter VI of these regulations”, the words, brackets and figures
“specified in the Chartered Accountants (Election to the Council)
Rules, 2006” shall be substituted.
26. In regulation 135 of the said regulations, in sub-regulation (4), the
Explanation shall be omitted.
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27. In regulation 137 of the said regulations,-
(i) in clause (i) of sub-regulation (1), for the word “September”, the word
“February” shall be substituted;
(ii) in sub-regulation (7), in clause (i), after item (e), the following item
shall be inserted, namely:-
“(f) Continuing Professional Education Committee.”;
(iii) in sub-regulation (11), for the word “September”, the word “February”
shall be substituted.
28. In regulation 141 of the said regulations, in the proviso to sub-regulation (1),
for the word “September”, the word “February” shall be substituted.
29. In regulation 149 of the said regulations, for sub-regulation (1), the following
sub-regulation shall be substituted, namely:-
“(1) The Regional Council shall, on a requisition made in writing by at least
ten per cent. of the total number of members of the region or seven hundred
fifty members in the region, whichever is less, convene an extraordinary
General Meeting.”.
30. In regulation 159 of the said regulations,-
(i) in sub-regulation (1), for the figures and word “100 members”, the
figures and word “150 members” shall be substituted;
(ii) after sub-regulation (1), the following sub-regulation shall be
inserted, namely:-
“(1A) The Council may also, by notification in the Gazette of India,
set up a branch of a Regional Council at such place in a district in which
neither the Headquarters of the Regional Council nor a branch of the
Regional Council is located, provided there are minimum 100 members
having their addresses registered in that district.”.
31. After regulation 161 of the said regulation, the following regulation shall be
inserted, namely:-
“161A. Meetings of Council through teleconferences or video
conferences. - A meeting of the Council, through teleconferencing or video
conferencing may, at any time, be called subject to such conditions as may be
determined by the Council from time to time.”.
32. After regulation 169 of the said regulations, the following regulation shall be
inserted, namely:-
“169A. Meetings of Standing Committee through teleconferences or video
conferences. - A meeting of the Standing Committee, through
teleconferencing or video conferencing may, at any time, be called subject to
such conditions as may be determined by such Committee from time to
time.”.
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33. In regulation 177 of the said regulations, in sub-regulation (3), after the
words and figures “in regulations 169”, the figures and letter “169A”, shall
be inserted.
34. In regulation 184, for sub-regulation (1), the following sub-regulation shall be
substituted, namely:-
“(1) Where a holder of a certificate granted by the Council has lost it, the
Council may, on an application made in this behalf, duly supported by an
affidavit of the applicant to the effect that he was in possession of such a
certificate and had lost it, issue a duplicate, -
(a) in case of a certificate of membership or a certificate of
practice as an associate or fellow on payment of a fee of five
hundred rupees; and
(b) in case of any other certificate issued under these regulations,
on payment of a fee of two hundred rupees.”.
35. In regulation 192 of the said regulations, in the proviso,-
(i) in clause (b), the word “and” occurring at the end shall be omitted;
(ii) after clause (c), the following clauses shall be inserted, namely:-
“(d) in the case of certain management consultancy services as
may be decided by the resolution of the Council from time to
time, the fees may be based on percentage basis which may
be contingent upon the findings, or results of such work;
(e) in the case of certain fund raising services, the fees may be
based on a percentage of the fund raised;
(f) in the case of debt recovery services, the fees may be based
on a percentage of the debt recovered;
(g) in the case of services related to cost optimisation, the fees
may be based on a percentage of the benefit derived; and
(h) any other service or audit as may be decided by the Council.”.
36. In regulation 203 of the said regulations,-
(i) in item (14),-
(a) for the word “staff”, the words “officers and
employees” shall be substituted;
(b) for the word “President”, the words “Executive
Committee shall” shall be substituted;
(ii) after item (20), the following item shall be inserted, namely:-
“(20A) signing all agreements, contracts, deeds, documents
and undertaking, etc., on behalf of the Institute subject to the
approval of the President;”;
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(iii) in item (21), for the words “signing vakalatnamas”, the words
“taking necessary steps in matters of any civil or criminal or
other proceeding on behalf of the Institute in courts or forums
or judicial or quasi-judicial authorities and signing
vakalatnamas” shall be substituted;
(iv) after item (23), the following item shall be inserted, namely:-
“(23A) authorising any officer of the Institute to exercise or
discharge any powers or duties under items (7), (9), (10),
(11), (12), (16), (17), (18) and (19), as may be considered
necessary from time to time.”.
37. In regulation 204 of the said regulations, for the words and letters “in
connection therewith in accordance with the rules contained in Schedules `C’,
`D’, `E’, `F’, `G’ and `H’ ”, the words “in connection with the post
qualification courses in Management Accountancy, Corporate Management,
Tax Management, Information Systems Audit, Insurance and Risk
Management, and International Trade Laws and World Trade Organisation”
shall be substituted.
38 In Schedule A to the said regulations, -
(i) in Form “4” relating to Certificate of Membership in the opening
paragraph, for the words and figures “This is to certify that ……. of
…….. was admitted as an Associate of the Institute on the ….. day
of….. 20……”, the following shall be substituted, namely:-
“This is to certify that ……. of …….. was admitted as an Associate of
the Institute on the ….. day of….. 20… and he/she is entitled to use
the letters A.C.A. after his/her name.”;
(ii) in Form “5” relating to Certificate of Membership in the opening
paragraph, for the words and figures “This is to certify that ……. of
…….. was admitted as a Fellow of the Institute on the ….. day of…..
20……”, the following shall be substituted, namely:-
“This is to certify that ……. of …….. was admitted as a Fellow of the
Institute on the ….. day of….. 20… and he/she is entitled to use the
letters F.C.A. after his/her name.”.
[File No.1-CA(7)/145/2012]
Sd/-
T. Karthikeyan
Secretary
Note: The principal regulations were published in the Gazette of India, Extraordinary, vide
notification number 1-CA(7)/134/88, dated the 1st June, 1988 and subsequently
amended by the following notification numbers:-
(i) Notification No.1-CA(7)/1/89 published in the Gazette of India, dated the 7th October, 1989;
(ii) Notification No.1-CA(7)/10/90 published in the Gazette of India, dated the 19th January, 1991;
16
(iii) Notification No.1-CA(7)/11/90 published in the Gazette of India, dated the 19th January, 1991;
(iv) Notification No.1-CA(7)/12/91 published in the Gazette of India, dated the 23rd February, 1991;
(v) Notification No.1-CA(7)/13/90 published in the Gazette of India, dated the 2nd February, 1991;
(vi) Notification No.1-CA(7)/19/92 published in the Gazette of India, dated the 7th March, 1992;
(vii) Notification No.1-CA(7)/28/95 published in the Gazette of India, dated the 1st September, 1995;
(viii) Notification No.1-CA(7)/30/95 published in the Gazette of India, Extraordinary, dated the 13th March,
1996;
(ix) Notification No. 1-CA(7)/31/97 published in the Gazette of India, dated the 16th August, 1997;
(x) Notification No. 1-CA(7)/44/99 published in the Gazette of India, dated the 26th February, 2000;
(xi) Notification No.1-CA(7)/45/99 published in the Gazette of India, dated the 26th February, 2000;
(xii) Notification No.1-CA(7)/51/2000 published in the Gazette of India, Extraordinary, dated the 17th
August, 2001;
(xiii) Notification No.1-CA(7)/59/2001 published in the Gazette of India, Extraordinary, dated the 28th
September, 2001;
(xiv) Notification No.1-CA(7)/64/2002 published in the Gazette of India, Extraordinary, dated the 31st
March, 2003;
(xv) Notification No.1-CA(7)/64A/2003 published in the Gazette of India, Extraordinary, dated the 4th
December, 2003;
(xvi) Notification No.1-CA(7)/83/2005 published in the Gazette of India, Extraordinary, dated the 28th
July, 2005;
(xvii) Notification No.1-CA(7)/84/2005 published in the Gazette of India, dated the 17th June, 2006;
(xviii) Notification No. 1-CA(7)/92/2006 published in the Gazette of India, dated the 13th September,
2006;
(xix) Notification No. 1-CA(7)/102/2007(E) published in the Gazette of India, dated the 17th August,
2007;
(xx) Notification No.1-CA(7)/116/2008 published in the Gazette of India, dated the 25th September,
2008;
(xxi) Notification No.1-CA(7)/123/2008 published in the Gazette of India, dated the 3rd December,
2008.
……………………….
 
All the Best
 
With Regards 
 
Naveen.N