The Council at its 201st meeting held on 23rd-24th June, 2011, in supersession of its earlier decision which was notified in October, 2008 issue of Chartered Secretary, has decided that with effect from 24th June, 2011, for the purpose of clause (c) of Regulation 48 of the Company Secretaries Regulations, 1982, the number of trainees to be sponsored by the Company Secretary in Practice (PCS) including a partner in a firm of Company Secretaries, will be equal to the number of years of continuous practice of the concerned member subject to a maximum of twenty trainees.
A PCS with two years of continuous practice will be entitled to engage only one trainee.
If the PCS surrenders his certificate of practice and starts his practice after a gap, he will be entitled to have the same number of trainees as he was entitled when he surrendered his certificate of practice.
CAclubindia
