can any one tell me the new rules and regulation of ICAI for the tranfer from CA firms to another new firms.
MEGHA MITTAL (CA FINAL STUDENT) (155 Points)
11 April 2008can any one tell me the new rules and regulation of ICAI for the tranfer from CA firms to another new firms.
Sathyanarayana.B
(Senior Executive- Finance)
(49 Points)
Replied 11 April 2008
Hi. There is no rules or regulation for transfer of articleship. But transfer of articleship is mutual consent of two parties i.e. article assistant and principal. You can take transfer, provided you have a valid reason for that.
| i. | By mutual consent between the articled clerk and the Principal. This may require transfer from one Principal to another |
| ii. | On the articled clerk opting for Industrial Training. |
| iii. | If an articled clerk has completed the registered period of three years of articles and has taken leave more than his entitlement, Form 108 has to be submitted and the entries regarding termination have to be made. In such a case, he will be required to serv the excess leave period in continuation to previous articles will the same. Principal (under Regulations 58) or with the other Principal under Regulation 46(6) |
| a. | The Principal ceases to be practice. |
| b. | Name of the Principal is removed from the Register of Members. |
| c. | On the death of the Principal. |
| 1. | The articled clerk is required to obtain a service certificate in Form No. 109 duly issued by the Institute. |
| 2. | The certificate is required to be submitted imeediately on termination of articles alongwith the practical training report as specified in the Training Guide. |
| 3. | In case of death of the Principal, the articled clerk is required to submit a service certificate in the prescribed Form No. 110 or 111. The certificate in Form No. 110 is required to be issued by the Legal Representative. In case of the partnership firm the certificate in Form No. 111 is required to be issued by the Surviving Partner. |
Krunal Raichura
(Financial Advisory)
(2134 Points)
Replied 12 April 2008
What if a first year article wants a tranfer and there is no mutual consent?
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