Current rules for transfer of articles

You can take a unrestricted Transfer in the first year of articleship

But wat abt this new announcement of May'11. Wat does this mean?

As per latest ICAI rules, there was no restriction to transfer. As per Point I of ICAI notification on July 2, 2010, transfer is permitted without any restriction during the first year. But for getting this transfer approved by ICAI,  your Principal should agree for it. If he agrees, then no problem at all. Simply fill in the forms and submit to ICAI. In my view, taking prior approval of ICAI (as per May 2011 notification) for getting transfer applies from 2nd year of articleship. Let others comment.