Home India Ministry of Corporate Affairs These rules may be called the Chartered Accountants Procedur...
Date: 2014-01-20 Category: Extra Ordinary State: Union Government Country: India

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, 2014.

Issued by Ministry of Corporate Affairs · NOT available

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Executive Summary & Key Takeaways

**Executive Summary:** This notification, issued by the Ministry of Corporate Affairs on January 16, 2014, amends the Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Services and allowances of the Chairperson and members of the Board Rules, 2006. The amendment, effective from the date of publication in the Official Gazette, concerns allowances for the Chairperson and members of the Board. It was published in the Gazette of India on January 20, 2014. **Key Points / Main Content:** * **Amendment Title:** The rules 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, 2014. * **Effective Date:** The rules come into force on the date of their publication in the Official Gazette (January 20, 2014). * **Amendment Details:** * In Rule 9, Sub-rule 2, after clause (i), a new clause is inserted. * Clause (ia) states that the Chairperson and other non-government servant members of the Board, when on foreign tours, are entitled to reimbursement of lodging expenses, traveling allowance, daily allowance, and other allowances at the same rates as admissible to a Joint Secretary to the Government of India. **Impact Analysis:** * **Chairperson and Non-Government Servant Members of the Quality Review Board:** * *Impact:* Entitled to reimbursement of expenses during foreign tours at rates equivalent to a Joint Secretary of the Government of India. * *Action Required:* Claim reimbursements for lodging, travel, daily allowances, and other allowances, ensuring compliance with the specified rates. * **Ministry of Corporate Affairs:** * *Impact:* Responsible for implementing and overseeing the amended rules. * *Action Required:* Ensure adherence to the new regulations regarding reimbursements for foreign tours of the Chairperson and non-government servant members of the Quality Review Board.

Key Entities Referenced

Chartered Accountants Act, 1949: An act of the Indian Parliament concerning chartered accountants. Specifically sections 28D and 29A are mentioned in the context of powers conferred to the Central Government. Central Government: The executive authority of the Union of India, which is making the rules. Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Services and allowances of the Chairperson and members of the Board Rules, 2006: The original rules being amended by this notification. 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, 2014: The short title of the amendment rules being introduced. Joint Secretary to the Government of India: A position within the Indian government whose allowances are used as a benchmark for reimbursements. Manoj Kumar: Joint Secretary who signed the notification. Ministry of Corporate Affairs: The ministry responsible for issuing the notification. New Delhi: The location where the notification was issued (New Delhi, Delhi)
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