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ABCAUS Excel for Chartered Accountants

Excel for
Chartered Accountants

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Ministry of Corporate Affairs

Notification

New Delhi, the 8 th February, 2016

G.S.R. 148(E).-In exercise of the powers conferred by clause (g) of sub-section (2) of section 29A read with sub-section (1) of section 28D of the Chartered Accountants Act, 1949 (38 of 1949), the Central Government hereby makes the following rules further to amend the Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and Members of the Board Rules, 2006, namely:-

1) Short title and commencement.- (1) These rules may be called the Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and Members of the Board (Amendment) Rules, 2016

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and Members of the Board Rules, 2006, in rule 9, in sub-rule (2), after clause (i) (ia), the following clause shall be inserted namely:-

"(ib) The Chairperson and Members nominated by the Central Government to the Board, shall not undertake any foreign tour without the prior approval of the Central Government. Whenever such a tour is proposed, the proposal should give full justification for the tour, including its purpose, necessity and the expected outcome of the tour for the consideration of the Central Government.

[F. No.  1/30/2015/PT]
MANOJ  KUMAR. Jt. Secy

ABCAUS Note:
Under Sec. 28A of the Chartered Accountants Act, 1949, consequent to the Chartered Accountants (Amendment) Act, 2006, the Central Government is empowered to constitute a Quality Review Board consisting of a Chairperson and ten other members. The Chairperson and members of the Board are appointed from amongst the persons of eminence having experience in the field of law, economics, business, finance or accountancy. Five members of the Board are nominated by the Council of the Institute of Chartered Accountants of India (ICAI) and the Chairperson and other five members are nominated by the Central Government. 

ICAI Chartered Accountants Quality Review Board Chairperson and Govt. nominated members not to undertake foreign tour without prior approval | 24-02-2016 |

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