Executive Summary:
This notification, issued by the Ministry of Corporate Affairs on February 8, 2016, amends 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. The amendment, referred to as the 2016 Amendment Rules, requires the Chairperson and Members nominated by the Central Government to the Board to obtain prior approval from the Central Government before undertaking any foreign tour. This amendment comes into force on the date of its publication in the Official Gazette.
Key Points / Main Content:
Amendments to Chartered Accountants Rules:
* 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 are amended.
* These amendments are 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.
* The rules come into force on the date of their publication in the Official Gazette.
Foreign Tour Approval:
* Rule 9, sub-rule 2 of the Chartered Accountants Rules, 2006 is amended.
* The Chairperson and Members nominated by the Central Government to the Board must obtain prior approval from the Central Government before undertaking any foreign tour.
* Any proposal for a foreign tour must include full justification, including its purpose, necessity, and expected outcome for the Central Government's consideration.
Impact Analysis:
Chairperson and Members Nominated by the Central Government to the Board:
Impact: These individuals are now required to seek prior approval from the Central Government before undertaking any foreign tour. This introduces a new procedural requirement for their activities.
Action Required: They must submit a detailed proposal to the Central Government, including justification for the tour, its purpose, necessity, and expected outcome, whenever a foreign tour is planned.
Central Government:
Impact: The Central Government will now be responsible for reviewing and approving foreign tour proposals from the Chairperson and Members nominated to the Board.
Action Required: Establish a process for reviewing and approving these foreign tour proposals, taking into account the justification provided and the overall benefit to the board.
Key Entities Referenced
Chartered Accountants Act, 1949: An act of the parliament of India, referenced in the notification as the basis for the rules being amended.
Central Government: The Government of India, which is issuing the notification and whose approval is required for foreign tours.
Quality Review Board: A board established under the Chartered Accountants Act, whose procedures and the terms of service of its members are being amended.
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: The principal rules that are being amended by this notification.
New Delhi: The location from which the notification is issued, presumably the capital of India.
Ministry of Corporate Affairs: The ministry responsible for issuing the notification.
Manoj Kumar: The Joint Secretary who signed the notification.
The Gazette of India: The official government gazette in which the notification is published.
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610 GI/2016 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 8th 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/PI]
MANOJ KUMAR, Jt. Secy.
Note:-The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i) vide
notification number G.S.R. 735(E), dated the 27th November, 2006 and subsequently amended vide notification
number G.S.R. 152(E), dated the 5th March, 2009, G.S.R. 8(E), dated the 10th January, 2012 and G.S.R. 32(E), dated
the 16th January, 2014.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.