ICAI has vide its press release dated 10th September 2014 proposed amendments to The Chartered Accountants Regulations, 1988 vide Draft Chartered Accountants (Amendment) Regulations, 2014. Vide this it has proposed the  Amendments in Regulations 28E, 39, 48 and 204 of the Chartered Accountants Regulations, 1988.

NOTIFICATION

No.1-CA(7)/167/2014.- The following draft of certain regulations further to amend theChartered Accountants Regulations, 1988, which the Council of the Institute of CharteredAccountants 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 allpersons likely to be affected thereby; and notice is hereby given that the said draftregulation shall be taken into consideration after the expiry of a period of forty-five daysfrom the date on which the copies of the Gazette of India, in which these draft regulationsare published, are made available to the public;

Any person desiring to make any objection or suggestion in respect of the said draftregulations, may forward the same to the Council of the Institute of Chartered Accountantsof India within the period so specified addressed to the Secretary, the Institute of CharteredAccountants of India, ICAI Bhawan, Indraprastha Marg, New Delhi – 110 002;

Any objection or suggestion which may be received from any person with respect tothe said draft regulations before the expiry of the period so specified shall be taken intoconsideration by the Council.

Draft Regulations

1. (1) These regulations may be called the Chartered Accountants (Amendment)Regulations, 2014.

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

2. In the Chartered Accountants Regulations, 1988 (hereinafter referred to as the saidregulations), in regulation 28E, in sub-regulation (1), clause (b), for the words “ninemonths”, the words “eight months” shall be substituted.

3. In regulation 39 of the said regulations, in sub-regulation (4), -(a) in clause (i) for the words “rupees five hundred”, the words “rupees twothousand five hundred” shall be substituted;(b) after clause (iii), the following proviso shall be inserted, namely:-“Provided that where a candidate is required for the purpose of passing toobtain section-wise minimum prescribed marks, section-wise marks shall besupplied.”

4. After regulation 39 of the said regulations, the following regulation shall be inserted,namely:-

“39A. Inspection or supply of certified copy of evaluated answer book.- Inspectionof an evaluated answer book or supply of a certified copy of an evaluated answerbook or both in any particular paper or papers of any examination conducted underC:Documents and SettingsokeshkumarDesktopNotification for Circulation.docx 2these Regulations shall be made to a candidate, in accordance with the norms asmay be decided by the Council from time to time, on his submitting an application, insuch manner and within such time as may be decided by the Council, along withsuch fee as may be fixed by the Council which shall not exceed rupees five thousandin the case of inspection of answer book and rupees eight thousand in case of supplyof certified copy of evaluated answer book.”

5. In regulation 48 of the said regulations, in sub-regulation (1), for the Table, thefollowing Table shall be substituted, namely:-

Table

6. In regulation 204 of the said regulations, for the words “and International TradeLaws and World Trade Organisations” the words, “International Trade Laws andWorld Trade Organisation and International Taxation” shall be substituted.

File No. 1-CA(7)/167 /2014

Sd/-

T. KARTHIKEYAN

SECRETARY