Regarding being an insurance agent

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Parag (Querist)
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24 August 2011 I just want to ask one thing that a CA who has cleared his final can become an Insurance agent if he does not want to do practise?
And if yes are there any requirements which we have to submit or declare to the ICAI?

Ravikant

Ravikant (Expert)
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24 August 2011 A CA cannot act as a Insurance Agent except for the limited purpose of receiving the Renewal Commission

Parag

Parag (Querist)
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24 August 2011 But in CA Professional Ethics its given a CA in practise can act as a Insurance Agent except for the limited purpose of receiving the Renewal Commission nothing has been mentioned about CA who is a just a member of ICAI doing job

Ravikant

Ravikant (Expert)
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24 August 2011 Please Refer PART II Clause (1) of the Professional Ethics,
It is Applicable for a member whether in practice or not.

Ravikant

Ravikant (Expert)
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24 August 2011 SECOND SCHEDULE - PART II Clause (1) of the Professional Ethics

CONTRAVENTION OF REGULATION 190-A

Parag

Parag (Querist)
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24 August 2011 Could you please post exactly what is written in Part II Clause (1) of the Professional Ethics.

CA. Anoop Gadia

CA. Anoop Gadia (Expert)
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24 August 2011 Part II Clause (1) said that CA cannot be a insurance agent but it can be insurance broker and also takes renewal commission as a agent if he having insurance agency before completing CA.

Parag

Parag (Querist)
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24 August 2011 Sorry that i argued but thanks a lot

Parag

Parag (Querist)
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24 August 2011 I saw it now that you told contravention of 190A which is as follows:
190A. Chartered Accountant In practice not to engage in any other business or occupation
“A chartered accountant in practice not to engage in any other business or occupation other
than the profession of accountancy except with the permission granted in accordance with a
resolution of the Council”.

Here its written only in practise

Parag

Parag (Querist)
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24 August 2011 Could anybody else reply that is it correct or not

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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24 August 2011 A CA can start agency business or for that matter any other business of any kind if he is not in practice.

Regulation 190A applies for CA in practice.

Parag

Parag (Querist)
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24 August 2011 Thanks a lot

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