ICAI Elections 2021 - Who can Contest and What is the Eligibility Criteria?



Quick Summary
The ICAI Elections 2021 are scheduled for December 3rd and 4th. To be eligible to contest, a member must be a fellow on April 1st of the financial year and remain on the Register until the last date of nomination scrutiny. Additionally, candidates must not have been found guilty of misconduct, hold a government post, have served as the Institute's auditor in the last three years, or have served more than three consecutive terms.

Since it is the beginning of the month of December and ICAI elections 2021 are going to be held in a couple of days, to be more specific, December 3 and 4, 2021, what better time to know more about it.

Through this article, let me tell you, who can contest the elections and what are the eligibility criteria required to contest for elections?

Who Can Contest for Elections?

A member who is a fellow on the first day of April, of the financial year in which an election is to take place and whose name continues to be borne on the Register on the last date of scrutiny of nominations under sub-rule (2) of rule 4, shall be eligible to stand for election to the Council from the regional constituency in which he is eligible to vote.

ICAI Elections 2021: Eligibility Criteria and Who Can Contest

What are the Eligibility criteria required to contest for Elections?

In addition to the member being the fellow on the First day of April,2021, and continuing to be borne on the registrar on the last date of scrutiny of nominations, the members are required to fulfill certain other criteria.The following person shall be eligible to stand for election to the Council, if−

  • He has not been found guilty of any professional or other misconduct and his name is removed from the register or he has been awarded penalty of fine as provided in proviso to clause (a) of sub-section (2) of Section 9 of the Act;
  • He is not holding a post under the Central or State Government as provided in subsection (3) of Section 9 of the Act;
  • He has not been auditor of the Institute during the last three year as provided in subsection (4) of Section 9 of the Act;
  • He has not held the office for more than three consecutive terms as provided in first proviso to Section 10 of the Act; or
  • He has not been elected as President under sub-section (1) of Section 12 of the Act as provided in second proviso to Section 10 of the Act.
 

For the purpose of determining the eligibility criteria for contesting in the elections, the following points shall also be considered

  • The penalties awarded to a person before coming into force of the Chartered Accountants (Amendment) Act, 2006 or penalties awarded to a person after coming into force of the Chartered Accountants (Amendment) Act, 2006 for offences committed before the coming into force of the same, shall also be taken account for the purpose of attracting disqualification under clause (a) of the proviso above;
  • For a person who has been the auditor of the Institute before coming into force of the Chartered Accountants (Amendment) Act, 2006, the three year period limitation provided under sub-section (4) of Section 9 of the Act shall also include the period between his ceasing to be an auditor and the coming into force of the Chartered Accountants (Amendment) Act, 2006;
  • The number of term(s) of Office held by a person as a member of the Council either under clause (a) or under clause (b) or partly under clause (a) and partly under clause (b) of sub-section (2) of Section 9 of the Act, prior to coming into force of the Chartered Accountants (Amendment) Act, 2006, shall not be taken into account for reckoning of the three consecutive terms for the purpose of disqualification under clause (d) of the proviso above;
  • The holding of the office of the President of the Institute under sub-section (1) of Section 12 of the Act, prior to coming into force of the Chartered Accountants (Amendment) Act, 2006, shall also be taken into account for the purpose of attracting disqualification under clause (e) of the proviso above.
 

Also Read:

FAQ :

The ICAI Elections 2021 are scheduled to be held on December 3 and 4, 2021.

A member who is a fellow on April 1st of the financial year and whose name is on the Register on the last date of scrutiny of nominations can stand for election.

Besides being a fellow and remaining on the Register, candidates must not have been found guilty of misconduct, not hold a Central or State Government post, not have been the Institute's auditor in the last three years, and not have held office for more than three consecutive terms.

Yes, penalties awarded before or after the Chartered Accountants (Amendment) Act, 2006, for offences committed before its commencement, are taken into account for disqualification.

Yes, the three-year limitation for not being the Institute's auditor includes periods before the Chartered Accountants (Amendment) Act, 2006, if the person served as auditor then.

Terms held before the Chartered Accountants (Amendment) Act, 2006, are not counted towards the three consecutive terms limit for disqualification.


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