CHARTERED ACCOUNTANTS REGULATIONS, 1988
(1) These Regulations may be called the Chartered Accountants Regulations, 1988.
(2) They shall come into force from June 1, 1988.
(1) In these Regulations, unless the context otherwise requires:-
(i) Act means The Chartered Accountants Act, 1949 (XXXVIII of 1949);
(ii) annual meeting means the first meeting of the Council held after the 1st day of August of each year;
(iii) appropriate form means a Form contained in Schedule A;
(iv) 1[articled assistant means an 1articled assistant as referred to in clause (j) of sub-section (2) of Section 30 of the Act engaged under articles by a member entitled to train 1articled assistants under these Regulations;
(v) 1 [audit assistant means an assistant engaged in audit service by a member entitled to train 2audit assistants under these Regulations;
The Register of members shall be in the appropriate Form*.
The list of members of the Institute as on the 1st day of April each year published, under sub-section (3) of section 19, may be sent to any member, on his request and on his making payment at the following rates,-
(i) Western Region Rupees 500/- per copy
(ii) Southern Region Rupees 500/- per copy
(iii) Eastern Region Rupees 300/- per copy
(iv) Central Region Rupees 400/- per copy
(v) Northern Region Rupees 500/- per copy
(vi) All India Rupees 750/- per copy]
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1. Substituted, respectively for the words, articled clerk and audit clerk, wherever the
Subject to the provisions of sections 4 and 8 of the Act, a person shall be entitled to have his name entered in the Register if he, -
(a) has completed the practical training as provided in these regulations and passed the final examination as specified in Schedule B'; or
(b) has completed the practical training as provided in these regulations, completed such course(s) and passed the final examination as per the syllabus as may be specified by the Council; or
(c) possesses qualifications recognised by the Council** as equivalent to the practical training and examinations referred to in clause (a) or (b) above.]
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2. Substituted for "sub-regulation (3)" and "sub-regulation (6)" respectively by Notification No. 1-CA(7
(1) (a) A person who desires to have his name entered in the Register shall submit to the Secretary an application, in the appropriate Form*, together with documentary evidence about his eligibility for membership and 3[such fee as may be determined by the Council under sub-section (3) of section 4.]
(b) An associate who desires to be admitted as a fellow shall submit to the Secretary an application, in the appropriate Form***, together with documentary evidence, if any required, about his eligibility for admission as a fellow, and 4[such fee as may be determined by the Council under sub-section (3) of section 5]:
5[Provided that an associate on being admitted as a fellow in the course of the year shall pay, for that year, only the differential amount].
(2) The applicant shall furnish such
(1) (a) The annual membership fee shall become due on the first day of April in each year.
(b) Every member shall pay such annual membership fee as may be determined by the Council under sub-section (4) of section 19.
(2) (a) The annual fee for certificate of practice shall become due on the first day of April in each year.
(b) Every member in practice shall pay such annual certificate of practice fee, as may be determined by the Council under sub-section (2) of section 6.
(3) A member seeking restoration of his membership shall pay, such additional fee, as may be determined by the Council under sub-section (3) of section 20].
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A person whose application for admission as a member or as associate or fellow member to the membership of the Institute referred to in Regulation 5 or whose application for a certificate of practice referred in Regulation 9 is not accepted by the Council, shall be entitled to a refund of the fee paid by him.
If the application made under Regulation 5 is accepted by the Council, the applicant's name shall be entered in the Register and a certificate of membership in the appropriate Form# shall be issued.
(1) A member may apply to the Council for a certificate entitling him to practise as a chartered accountant.
(2) An application for the grant of certificate of practice shall be made in the appropriate Form* and shall be accompanied by the annual certificate fee and the annual membership fee unless the same has already been paid in accordance with Regulation 6.
(3) The certificate issued in the appropriate Form** shall be valid until it is cancelled under the provisions of these Regulations.
(4) Notwithstanding anything contained in this regulation, a certificate of practice held by a member on 31st March, 1975 shall be deemed to have been issued under this regulation and shall continue to be valid until it is cancelled.
(5) On his ceasing to be in
7[(1) A certificate of practice issued under sub-section (1) of section 6 shall be liable for cancellation, if -
(i) the name of the holder of the certificate is removed from the Register under sub-sections (1) and (2) of section 20; or
(ii) the Council is satisfied, after giving an opportunity of being heard to the person concerned, that such certificate was issued on the basis of incorrect, misleading or false information, or by mistake or inadvertence; or
(iii) a member has ceased to practise; or
(iv) a member has not paid annual fee for certificate of practice till 30th day of September of the relevant year.
(2) The cancellation of a certificate shall be effective:* Form 6 of Schedule A. ** Form 7 of
The Council may, on an application made in the ##approved Form and on payment of such fee, as may be determined by the Council under sub-section (3) of section 20, restore the certificate of practice with effect from the date on which it was cancelled, to a member whose certificate has been cancelled due to non-payment of the annual fee for the certificate of practice and whose application, complete in all respects, together with the fee, is received by the Secretary before the expiry of the relevant year.]
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8. Substituted, for the following, by Notification No. 1-CA(7)/116/2008 published in Part III, Section 4 of the Gazette of India, Extraordinary, dated 25th September, 2008:
11. Restoration of certificate of practice
9[Applicable to a complaint or information pending before the Council or any inquiry initiated by the Disciplinary Committee or any reference or appeal made to a High Court prior to 17.11.2006]
(1) Subject to the provisions of this regulation, a complaint against a member under Section 21 shall be investigated and all other enquiries relating to misconduct of such member shall be held by the Disciplinary Committee:
PROVIDED that if the subject matter of a complaint is, in the opinion of the President, substantially the same as or has been covered by any previous complaint or information received, the Secretary shall file the said complaint without any further action and inform the Complainant accordingly.
(2) A complaint under Section 21 shall be in the *appropriate Form duly verified and shal
9[Applicable to a complaint or information pending before the Council or any inquiry initiated by the Disciplinary Committee or any reference or appeal made to a High Court prior to 17.11.2006]
The procedure laid down in sub-regulation (1) and sub-regulations (6) to (13) of Regulation 12 shall, so far as may be, apply to an information received under Section 21.
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9. Inserted by Notification No. 1-CA(7)/116/2008 published in Part III, Section 4 of the Gazette of India, Extraordinary, dated 25th September, 2008.
9[Applicable to a complaint or information pending before the Council or any inquiry initiated by the Disciplinary Committee or any reference or appeal made to a High Court prior to 17.11.2006]
Where the Council is satisfied that there would be difficulty in securing proper evidence of the alleged misconduct, or that the member against whom the complaint has been filed, would find it difficult to lead evidence to defend himself on account of the time lag, or that changes have taken place rendering the inquiry procedurally inconvenient or difficult, the Council may refuse to entertain a complaint or information in respect of misconduct made more than 10 years after the same was alleged to have been committed.
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9. Inserted by Notification No. 1-CA(7)/116/2008 published in Part II
9[Applicable to a complaint or information pending before the Council or any inquiry initiated by the Disciplinary Committee or any reference or appeal made to a High Court prior to 17.11.2006]
(1) It shall be the duty of the Secretary to place before the Disciplinary Committee all the facts brought to the knowledge which are relevant for the purpose of the enquiry by the Disciplinary Committee.
(2) If the Respondent pleads guilty, the Disciplinary Committee shall record the plea and submit its report to the Council.
(3) The Respondent shall have a right to defend himself before the Disciplinary Committee either in person or through a legal practitioner or any other member.
(4) Except as otherwise provided in these Regulations, the Disciplinary Comm
9[Applicable to a complaint or information pending before the Council or any inquiry initiated by the Disciplinary Committee or any reference or appeal made to a High Court prior to 17.11.2006]
(1) The Disciplinary Committee shall submit its report to the Council.
(2) Where the e finding of the Disciplinary Committee is that the Respondent is guilty of professional and or other misconduct, a copy of the report of the Disciplinary Committee shall be furnished to the Respondent and he shall be given the opportunity of making a representation in writing to the Council.
(3) The Council shall consider the report of the Disciplinary Committee along with the representation in writing of the Respondent, if any, and if, in its opinion, a further enquiry is necessary, shall cause such further enquiry to
9[Applicable to a complaint or information pending before the Council or any inquiry initiated by the Disciplinary Committee or any reference or appeal made to a High Court prior to 17.11.2006]
(1) If the Council, in view of its findings, is of opinion that there is a case for passing an order under sub-section (4) of Section 21, it shall:-
(a) furnish to the Respondent a copy of its findings; and
(b) give him a notice calling upon him to appear before it on a specified date or if he does not wish to be heard in person, to send within a specified time, such representation in writing as he may wish to make in connection with the order to be passed against him under subsection (4) of Section 21.
(2) The scope of the hearing or of the representation in
[Applicable to a complaint or information received on or after 17.11.2006]
(1) Every complaint, other than a complaint filed by or on behalf of the Central Government or any State Government or any statutory authority, shall be accompanied by a fee of Rs. 2,500/-.
(2) Each such complaint or information shall be dealt with in accordance with the procedure specified in the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007.]
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10. Inserted by Notification No. 1-CA(7)/116/2008 published in Part III, Section 4 of the Gazette of India, Extraordinary, dated 25th September, 2008.
The removal of a member's name from the Register shall be notified in the Gazette of India and shall also be communicated in writing to him.
(1) The Council may, on an application in the *appropriate Form, received in this behalf from a member whose name has been removed from the Register under clause (c) of sub-section (1) of section 20, restore his name, if he is otherwise eligible to such membership, on his paying the arrears of annual membership fee, entrance fee and additional fee determined by the Council under the Act.
(2) The restoration under sub-regulation (1) shall be with effect from the date on which the application and fee are received:
Provided that where such an application for restoration, complete in all respects, is received within the same year in which the name was removed, the Council may restore the name on his paying the annual membership fee due for that year, entrance fee and the additional fee for restoration, with effect from the date on which it w
The restoration of a member's name to the Register shall be notified in the Gazette of India and shall also be communicated in writing to him.
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