Professional ethics discussion - audit - ca final - pl join

SURE !!

welcome dhivya. letus start

who can't have his name registered in register of members (Disqualification as members)?

how is undischared in solvent? and discharged insolvent but has not obtained a certificate from court ...............means what?

Sry.. I dont get u.. Be still more clear and specific pls..:\

out of the persons who are disqualified as to register as members, there is persons of age less than 21 years , unsound mind these are understandbale for me.

but it is given undischarged insolvent and discharged insolvent but has not obtianed a certificate from court stating that his insolvency was due to misfortune without any misconduct on his part ----- what this mean?

IN LAW 

DISCHARGED SOLVENT CAN BECOME MEMBER

UNDISCHARGED INSOLVENT CAN BECOME MEMBER IF HIS INSOLVENCY WAS DUE TO HIS MISFORTUNE WHITHOUT ANY MISTAKE ON HIS PART

CORRECT ME IF I WRONG

@ Vikas: Undischarged insolvent and stands so adjudged by a competent court, is disqualified.

Being a discharged insolvent, fails to obtain from a competent court, a certificate stating that his insolvency was caused by misfortune without any misconduct on his part, is also disqualified.

So a discharged insolvent has to obtain a certificate from the court in order to be eligible for membership.

@ Madhavi:  Undischarged insolvent is a person, that is, one who cannot repay the debts he owe to creditors. 

A member, being an undischarged insolvent, pays off all his debts and becomes a discharged insolvent, he should obtain a certificate from the court, stating his insolvency was caused by misfortunce without any misconduct on his part, in order to eligible for membership!

Hope you got it!