The Institute of Chartered Accountants of India on 27th May 2021 notified the Chartered Accountants (Amendment) Regulations, 2021 in order to further make amendments to the Chartered Accountants Regulations, 1988. Thus, ICAI has now invited comments on the Chartered Accountants (Amendment) Regulations, 2021 which may be sent by email to - comments.bosrba@icai.in. Read the regulations issued below:
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 27th May, 2021
(Chartered Accountants)
No.1-CA(7)/198/2021.- The following draft of certain regulations further to amend the Chartered Accountants Regulations, 1988, which the Council of the Institute of Chartered Accountants of India proposes to make, is hereby published, as required by sub-section (3) of section 30 of the Chartered Accountants Act, 1949 (38 of 1949) for the information of all persons likely to be affected thereby; and notice is hereby given that the said draft regulation shall be taken into consideration on or after the expiry of period of forty-five days from the date on which the copies of the Gazette of India, in which these draft regulations are published, are made available to the public; Any person desiring to make any objection or suggestion in respect of the said draft regulations, may forward the same for consideration by the Council of the Institute of Chartered Accountants of India within the period so specified above to the Secretary, the Institute of Chartered Accountants of India, Indraprastha Marg, New Delhi – 110002;
Any objection or suggestion which may be received from any person with respect to the said draft regulations before the expiry of the period so specified shall be taken into consideration by the Council.
Draft Regulations
1. (1) These regulations may be called the Chartered Accountants (Amendment) Regulations, 2021.
(2) They shall come into force on the date of their final publication in the Official Gazette.
2. In the Chartered Accountants Regulations, 1988 (hereinafter referred to as the said regulations), in proviso to sub-regulation (1) of regulation 28G of the said regulations,-
(i) For the words and figures, "sub-regulation (3)", the words and figures, "sub-regulation (4)" shall be substituted.
3. In the Explanation to regulation on 29D of the said regulations,-
(i) for the words "for becoming eligible for admission to Final examination", the words "before applying for membership of the Institute" shall be substituted.
4. In regulation 159 of the said regulations,-
(i) in sub-regulation (1),- for the figure, "150", the figure "200" shall be substituted.
(ii) in sub-regulation (1A),-for the figure, "100", the figure "200" shall be substituted.
CA. (Dr.) JAI KUMAR BATRA, Acting Secy.
[ADVT.-III/4/Exty./70/2021-22]
Note: The principal regulations were published in the Gazette of India, Extraordinary, dated the 1st June, 1988 vide number 1-CA(7)/134/88 dated 1st June, 1988 and subsequently amended by the following numbers:-
(i) Notification No.1-CA(7)/1/89 published in the Gazette of India, dated 7th October, 1989
(ii) Notification No.1-CA(7)/10/90 published in the Gazette of India, dated 19th January, 1991
(iii) Notification No.1-CA(7)/11/90 published in the Gazette of India, dated 19th January, 1991
(iv) Notification No.1-CA(7)/12/91 published in the Gazette of India, dated 23rd February, 1991
(v) Notification No.1-CA(7)/13/90 published in the Gazette of India, dated 2nd February, 1991
(vi) Notification No.1-CA(7)/19/92 published in the Gazette of India, dated 7th March, 1992.
(vii) Notification No.1-CA(7)/28/95 published in the Gazette of India dated 1st September, 1995
(viii) Notification No.1-CA(7)/30/95 published in the Gazette of India, Extraordinary dated 13th March, 1996
(ix) Notification No. 1-CA(7)/31/97 published in the Gazette of India, dated 16th August, 1997
(x) Notification No. 1-CA(7)/44/99 published in the Gazette of India dated 26th February, 2000
(xi) Notification No.1-CA(7)/45/99 published in the Gazette of India, dated 26th February, 2000
(xii) Notification No.1-CA(7)/51/2000 published in the Gazette of India, Extraordinary, dated 17th August, 2001
(xiii) Notification No.1-CA(7)/59/2001 published in the Gazette of India, Extraordinary dated 28th September, 2001
(xiv) Notification No.1-CA(7)/64/2002 published in the Gazette of India, Extraordinary dated 31st March, 2003
(xv) Notification No.1-CA(7)/64A/2003 published in the Gazette of India, Extraordinary dated 4th December, 2003
(xvi) Notification No.1-CA(7)/83/2005 published in the Gazette of India, Extraordinary dated 28th July, 2005
(xvii) Notification No.1-CA(7)/84/2005 published in the Gazette of India, dated 17th June, 2006
(xviii) Notification No. 1-CA(7)/92/2006 published in the Gazette of India, dated 13th September, 2006
(xix) Notification No. 1-CA(7)/102/2007(E) published in the Gazette of India, dated 17thAugust, 2007
(xx) Notification No.1-CA(7)/116/2008 published in the Gazette of India, dated 25th September, 2008
(xxi) Notification No.1-CA(7)/123/2008 published in the Gazette of India, dated 3rd December, 2008
(xxii) Notification No. 1-CA(7)/145/2012 published in the Gazette of India, Extraordinary dated 1st August, 2012
(xxiii) Notification No. 1-CA(7)/154/2014 published in the Gazette of India, Extraordinary dated 22nd July, 2014
(xxiv) Notification No. 1-CA(7)/167/2014 published in the Gazette of India, Extraordinary dated 23rd January, 2015.
(xxv) Notification No.1-CA(7)/178/2016 published in the Gazette of India, Extraordinary dated 25th May, 2017
(xxvi) Notification No.1-CA(7)/193/2020 published in the Gazette of India, Extraordinary dated 19th October, 2020
Comments/suggestions if any may be sent to email id comments.bosrba@icai.in.
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