Executive Summary:
This notification, issued by The Institute of Company Secretaries of India (ICSI) on May 11, 2017, announces revised membership fees effective April 1, 2017. It also specifies concessional fee rates for newly admitted Associate members and details their applicability. The notification is published for general information.
Key Points / Main Content:
Membership Fee Revisions:
Effective Date: April 1, 2017.
Revised fees are prescribed for ACS (Associate Company Secretary) and FCS (Fellow Company Secretary) members.
Annual Membership Fee: Increased from Rs. 1125 to Rs. 2500 (ACS) and from Rs. 1500 to Rs. 3000 (FCS).
Entrance Fee: Increased from Rs. 1500 to Rs. 2000 (ACS) and from Rs. 1000 to Rs. 2000 (FCS).
Restoration Fee: Remains unchanged at Rs. 250 for both ACS and FCS.
Certificate of Practice Fee: Increased from Rs. 1000 to Rs. 2000 (ACS) and from Rs. 1000 to Rs. 2000 (FCS).
Concessional Fees for Newly Admitted Associate Members:
Applicability: New ACS members admitted on or after April 1, 2015.
Annual Membership Fee: Rs. 1500.
Entrance Fee: Rs. 2000.
Restoration Fee: Rs. 250 (no change).
Certificate of Practice Fee: Rs. 1500.
Duration: The concessional fee structure applies for two financial years from the date of admission, specifically FY 2017-18 and 2018-19 for members admitted between April 1, 2015, and March 31, 2017.
Extension of Concessional Fees:
Newly admitted members on or after April 1, 2017, are also eligible for the concessional fee for the year of admission and the following year.
The benefit is limited to a maximum of two initial annual membership fees.
Impact Analysis:
Existing ACS and FCS Members:
Impact: Increased annual membership fees and certificate of practice fees.
Action Required: Pay the revised fees effective April 1, 2017.
Newly Admitted Associate Members (on or after April 1, 2015):
Impact: Eligible for concessional fee rates for a limited period.
Action Required: Avail the concessional fee structure for the applicable duration.
Newly Admitted Associate Members (on or after April 1, 2017):
Impact: Eligible for concessional fee rates for a limited period.
Action Required: Avail the concessional fee structure for the applicable duration.
Key Entities Referenced
The Institute of Company Secretaries of India (ICSI): A professional body constituted under the Company Secretaries Act, 1980.
Company Secretaries Act, 1980: The law under which ICSI is constituted and which empowers the council to prescribe fees.
Company Secretaries Regulations, 1982: Regulations read with the Company Secretaries Act, 1980, which empower the Council of the Institute to prescribe fees.
New Delhi, Delhi: The location where the notification is issued.
1st April, 2017: The effective date for the revised membership fees.
Dinesh C. Arora: Secretary of The Institute of Company Secretaries of India (ICSI).
Mayapuri, New Delhi: Location of the Dte. of Printing at Government of India Press.
Delhi: Location of the Controller of Publications.
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THE INSTITUTE OF COMPANY SECRETARIES OF INDIA (ICSI)
(Constituted under the Company Secretaries Act, 1980)
NOTIFICATION
New Delhi, the 11th May, 2017
F. No. ICSI/5/2017.—The following is published for general information:—
1. No. ...............In exercise of the powers conferred by Sections 4(3), 5(3), 6(2) and 19(4) of the Company Secretaries
Act, 1980, read with Regulations 6, 8, 13 and 14 of the Company Secretaries Regulations,1982, the Council of the
Institute hereby prescribes the following rates of fees payable by the members with effect from 1st April, 2017:
ACS FCS
Particulars Fee (upto 31st Revised fee Fee (upto 31st March, Revised fee
March, 2017) (w. e. f. 1st April, 2017) (w. e. f. 1st April,
2017) 2017)
Annual membership Rs. 1125 Rs. 2500 Rs. 1500 Rs. 3000
fee
Entrance fee Rs. 1500 Rs. 2000 Rs. 1000 Rs. 2000
Restoration fee Rs. 250 Rs. 250 Rs. 250 Rs. 250
(no change) (no change)
Certificate of Rs. 1000 Rs. 2000 Rs. 1000 Rs. 2000
Practice fee
2. The Council of the ICSI further notifies the rates of fees payable by the newly admitted Associate members of the
ICSI having 0-2 years of membership (i.e. members admitted w. e. f. 1st April, 2015 and thereafter), w. e. f. 1st April,
2017, as under-¹Hkkx IIIμ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
ACS
Fee Fee with effect from 1st April, 2017 for
Particulars
(upto 31st March, 2017) members with 0-2 years of standing i.e. ACS
admitted on or after 1st April, 2015
Annual membership fee Rs. 1125 Rs. 1500
Entrance fee Rs. 1500 Rs. 2000
Restoration fee Rs. 250 Rs. 250
(no change)
Certificate of Practice Rs. 1000 Rs. 1500
fee
3. The concessional fee structure shall be applicable to the members having membership of 0-2 years (admitted on any
date, on or after 1st April, 2015 to 31st March, 2017) for two financial years only, i.e. for FY 2017-18 and 2018-19.
The concessional fee rates will also be applicable to the members admitted on any date, on or after 1st April, 2017 for
two financial years (i. e. the year of admission and the following year) till further determination of fee, if any, by the
Council.
DINESH C. ARORA, Secy.
[ADVT.-III/4/Exty./79/17]
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.