Regulation 43 of icai

Regulation 43 of the Chartered Accountants Regulations, 1988, pertains to the Engagement of Articled Assistants. It governs the eligibility criteria for a Chartered Accountant (either in practice or in full-time employment) to engage and train articled assistants.

Understanding the "Sub-regulation" Query

In the context of the online discussion you shared, the user is likely asking about how to fill out a form (such as a registration form for articleship) where they are asked to specify a "sub-regulation."

• Interpretation: There is no single "sub-regulation" that a student generally needs to write for themselves. The regulation specifies the eligibility of the Principal (the CA). If you are an articled assistant, you are generally not required to cite a specific sub-regulation in your personal forms unless requested to identify the specific category under which your Principal is eligible to train you (e.g., as a partner in a firm, as a proprietor, or under salaried employment).

• What it covers: Regulation 43 details:

  • Eligibility: The number of assistants a CA can train, which depends on their years of continuous practice or their status as a salaried employee in a CA firm.

  • Tables: It refers to specific tables (Table I and Table II) that outline the entitlement of a member to train assistants based on their years of experience or the number of employees.

  • Main Occupation: It mandates that the practice must be the member's "main occupation" to be eligible.

Summary for your reference

If you are filling out a form and see a column for "Regulation/Sub-regulation," it is likely asking for the legal provision under which the articleship agreement is being filed. However, in most standard ICAI forms, this is often pre-filled or refers to the general "Regulation 43." If the form requires you to specify the basis of your Principal's eligibility, you should consult your Principal or their office to determine if they are training you under the "Partner" category, "Proprietor" category, or "Salaried Employee" category as defined in the sub-sections of Regulation 43.

Summary: Regulation 43 of the ICAI regulations outlines the rules for the Engagement of Articled Assistants. It defines how many trainees a CA can hire based on their years of practice or employment status. If you are asked to cite a "sub-regulation" on a form, it usually refers to the specific category of the Principal's eligibility; you should verify the exact classification with your Principal.