The Institute of Chartered Accountants of India (ICAI) notified Draft Chartered Accountants (Amendment) Regulations, 2021 which proposes the increase in the Members for setting up of Regional Council.
The notification seeks to amend the Chartered Accountants Regulations, 1988.
In regulation 159 of the said regulations, in sub-regulation (1), for the figure, “150”, the figure “200” shall be substituted and in sub-regulation (1A),-for the figure, “100”, the figure “200” shall be substituted.
Regulation 159(1) deals with the setting up a branch of a Regional Council in a city other than the headquarters of the Regional Council provided that not less than 150 members, which has now increased to 200 Members.
Regulation 159(1-A) empowers the Council to set up a branch of a Regional Council at such place in a district in which neither the Headquarters of the Regional Council nor a branch of the Regional Council is located, provided there are minimum 100 members, which is now increased to 200 members having their addresses registered in that district.
The ICAI invites objection or suggestion in respect of the said draft regulations and directs to forward the same for consideration by the Council of the Institute of Chartered Accountants of India within the period of forty-five days from 27th May, 2021.
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