## Report on Amendments to the Chartered Accountants Regulations, 1988
**1. Executive Summary:**
This report analyzes amendments to the Chartered Accountants Regulations, 1988, as published in the Gazette of India on June 23, 2021. The core purpose of these amendments is to modify regulations pertaining to industrial training for articled assistants and related aspects like leave policies. Key changes include adjustments to eligibility criteria and duration for industrial training, modifications to the leave policy for articled assistants, and the omission of a specific subregulation related to leave. These amendments aim to enhance the practical training experience for aspiring chartered accountants.
**2. Introduction:**
This report provides a detailed overview of the amendments to the Chartered Accountants Regulations, 1988, as outlined in the official Gazette notification published on June 23, 2021. The analysis is based solely on the provided text of the notification and aims to inform stakeholders of the changes and their potential implications.
**3. Policy Overview:**
* This document pertains to amendments to the Chartered Accountants Regulations, 1988.
* **Core Objective(s):** Based on the provided text, the core objectives of these amendments are to:
* Modify and refine the regulations surrounding industrial training for articled assistants.
* Adjust regulations relating to leave policies for articled assistants.
**4. Background and Rationale:**
This document amends the Chartered Accountants Regulations, 1988. The amendment text seems designed to address specific needs related to practical training and leave management for articled assistants. Specifically, the changes to industrial training suggest a desire to broaden the scope and accessibility of such training. The adjustment to leave policies and the removal of subregulation 4 indicate a desire to streamline and clarify the regulations related to leave.
**5. Key Provisions / Changes:**
This section details the specific changes introduced by the amendment text:
* **i. Amendment to Regulation 51 (Industrial Training):** This is a *significant change* involving *substantial substitution*.
* **Original Policy (Regulation 51):** The original regulation 51 is *completely replaced* by a *new* regulation. The original regulation content *is not included* within the provided text.
* **New Rule/Provision:** The new regulation 51 now details eligibility for industrial training, acceptable training locations (Government, statutory bodies, banking companies, and approved financial/commercial/industrial undertakings), notification requirements for the principal, training duration (9 to 18 months), qualifications for trainers (members of the Institute), training agreements, certification upon completion, treatment of industrial training as service under articles, allowance for training in foreign countries, and rules for stipends.
* **Difference/Effect:** This change significantly expands and formalizes the process for industrial training. It outlines the requirements for both the trainee and the training provider, adding structure and clarity to this aspect of the chartered accountancy program.
* **ii. Amendment to Regulation 54 (Subregulation 5):**
* **Original Policy (Regulation 54(5)):** This subregulation previously used the words "one year".
* **New Rule/Provision:** The words "one year" are *substituted* with "eighteen months."
* **Difference/Effect:** This extends the period from one year to eighteen months, likely increasing the required time for a specific activity or condition under this subregulation. Without the broader context of Regulation 54(5), the precise impact is difficult to fully ascertain, however the trainee will be in training for an additional six months.
* **iii. Amendment to Regulation 58:**
* **a. Amendment to Regulation 58 (Subregulation 2):**
* **Original Policy (Regulation 58(2)):** The original phrasing was "If the period of the excess leave taken is sought to be served".
* **New Rule/Provision:** The phrasing is changed to "The period of excess leave taken shall be served".
* **Difference/Effect:** This change removes the conditionality ("If...is sought") and makes the serving of excess leave *mandatory*. It suggests a stricter approach to managing excess leave.
* **b. Omission of Regulation 58 (Subregulation 4):**
* **Original Policy (Regulation 58(4)):** The provided text *does not* contain the original text of this subregulation.
* **New Rule/Provision:** Subregulation 4 is *removed entirely*.
* **Difference/Effect:** The removal of this subregulation means that whatever the subregulation detailed is no longer applicable. Without the original text, the precise impact of this omission cannot be determined.
**6. Target Audience and Stakeholders:**
Based on the text, the target audience and stakeholders directly affected by these amendments include:
* Articled assistants pursuing chartered accountancy.
* Members of the Institute of Chartered Accountants of India (ICAI) acting as principals or industrial training providers.
* Organizations providing industrial training (Central/State Governments, statutory bodies, banking companies, and approved undertakings).
* The Council of the Institute of Chartered Accountants of India.
**7. Implementation Aspects (Inferred):**
* **Responsible agency/bodies:** The Council of the Institute of Chartered Accountants of India (ICAI) is primarily responsible for implementing and overseeing these regulations, including approving training locations, recognizing officers for training, and approving the forms for training agreements and certificates.
* **Timelines or procedures:**
* The amendments came into force on the date of their publication in the Official Gazette (June 23, 2021).
* Articled assistants must inform their principal about industrial training at least three months before commencement.
* Agreements for industrial training must be entered into using a form approved by the Council.
* Members must issue a certificate upon completion of industrial training using a form approved by the Council and forward a copy to the Secretary.
**8. Expected Outcomes / Impact of Changes:**
* **Regulation 51 (Industrial Training):** The expanded and formalized industrial training process is likely intended to provide articled assistants with more diverse and structured practical experience. It should result in better prepared and more well-rounded chartered accountants.
* **Regulation 54 (Subregulation 5):** The increased period from one year to eighteen months will likely affect the length of time an individual spends in that role, whatever it is.
* **Regulation 58 (Subregulation 2):** A stricter enforcement of leave policies is likely intended to improve attendance and dedication to articleship.
* **Regulation 58 (Subregulation 4):** Without the original text of 58(4), the outcome cannot be assessed.
**9. Conclusion:**
The amendments to the Chartered Accountants Regulations, 1988, detailed in this report, primarily focus on refining and strengthening the industrial training and leave policies for articled assistants. The changes aim to improve the quality and structure of practical training and streamline leave management, ultimately contributing to the development of competent chartered accountants. Stakeholders should carefully review the specific changes to ensure compliance and maximize the benefits offered by the revised regulations.
Key Entities Referenced
NEW DELHI: Capital of India, place of publication of the Gazette.
Chartered Accountants Regulations, 1988: Regulations amended by the notification.
Chartered Accountants Act, 1949: Act under which the regulations are made; referenced as '38 of 1949'.
Gazette of India: Official journal of the Government of India in which the notification and regulations are published.
Institute of Chartered Accountants of India: Organization responsible for regulating the profession of chartered accountancy in India.
Central Government: The Union Government of India, whose approval is required for the regulations.
Council of the Institute: The governing body of the Institute of Chartered Accountants of India.
Chartered Accountants Amendment Regulations, 2021: The regulations being introduced/amended in the notification.
Intermediate Professional Competence Examination: An examination for articled assistants.
Professional Education ExaminationII: An examination for articled assistants.
Intermediate examination: An examination for articled assistants.
Central or State Governments: Governmental bodies where industrial training can be served.
Central statutory and judicial authorities: Authorities where industrial training can be served.
regulatory bodies: Bodies where industrial training can be served.
banking companies: Companies where industrial training can be served.
International Federation of Accountants: Accountancy body whose members can train industrial trainees in foreign countries.
Government of India Press, Ring Road, Mayapuri, New Delhi110064: Place where document uploaded
Controller of Publications, Delhi110054: Publisher of the document
Dr. JAI KUMAR BATRA: Acting Secy
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
xxxGIDHxxx
सी.जी.-डी.एल.-अ.-23062021-227811
xxxGIDExxx
CG-DL-E-23062021-227811
असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 256] नई दिल्ली, बधु िार, िून 23, 2021/ आषाढ़ 2, 1943
No. 256] NEW DELHI, WEDNESDAY, JUNE 23, 2021/ ASHADHA 2, 1943
भारतीय चार्टड ट अकाउंर्ेंट्स सस्ट्ं थान
अजधसचू ना
नई दिल्ली, 22 िून, 2021
स.ं 1-सीए(7)/196/2021.—चार्टडट अकाउंर्ेंट्स जिजनयम, 1988 का आगे और संिोधन करने के जलए कजतपय
प्रारूप जिजनयमों को, चार्टड ट अकाउंर्ेंट्स अजधजनयम, 1949 (1949 का 38) की धारा 30 की उपधारा (3) की
अपेक्षानुसार, उससे प्रभाजित होने िाले व्यजियों से, उस तारीख से जिसको उि अजधसूचना को अंतर्िटष्ट करने िाले उि
रािपत्र की प्रजतयां िनता को उपलब्ध करा िी िाती ह,ैं पैंतालीस दिन की अिजध के अिसान से पूिट आक्षेप और सुझाि
आमंजत्रत करते हुए भारत के रािपत्र, असाधारण, भाग III, खंड 4, तारीख 23 जसतंबर, 2020 में प्रकाजित दकया गया था;
और उि रािपत्र की प्रजतयां 23 जसतंबर, 2020 को िनता को उपलब्ध करा िी गई थी ;
और िनता से उि प्रारूप जिजनयमों के संबंध में प्राप्त आक्षेपों और सुझािों पर संस्ट्थान की पररषि ् द्वारा जिचार
दकया गया ह ै;
अत:, अब पररषि ्उि अजधजनयम की धारा 30 की उपधारा (1) द्वारा प्रित्त िजियों का प्रयोग करत े हुए, केंद्रीय
सरकार के अनुमोिन स े चार्टड ट अकाउंर्ेंट्स जिजनयम, 1988 का आग े और संिोधन करन े के जलए जनम्नजलजखत जिजनयम
बनाती ह,ै अथाटत ्: —
1. संजक्षप्त नाम और प्रारंभ—(1) इन जिजनयमों का संजक्षप् त नाम चार्टड ट अकाउंर्ेंट्स (संिोधन) जिजनयम, 2021
ह।ै
(2) य ेरािपत्र में उनके प्रकािन की तारीख को प्रिृत् त होंगे ।
3424 GI/2021 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
2. चार्टडट अकाउंर्ेंट्स जिजनयम, 1988 म,ें—
(i) जिजनयम 51 के स्ट्थान पर जनम्नजलजखत जिजनयम रखा िाएगा, अथातट ् :--
“51. (1) ऐसा कोई आर्र्टकल्ड सहायक, जिसने मध्यिती (िृजत्तक सक्षमता) परीक्षा या िृजत्तक परीक्षा (परीक्षा-II)
या मध्यिती परीक्षा को उत्तीणट दकया ह ै और इन जिजनयमों के अनुसार न्यूनतम अरारह मास का व्यिहाररक
प्रजिक्षण पूरा दकया ह,ै औद्योजगक प्रजिक्षण के जलए पात्र होगा ।
(2)(क) कोई आर्र्टकल्ड सहायक उपजिजनयम (4) म ें जिजनर्िष्टट अिजध के जलए केंद्रीय या राज्य सरकारों, केंद्रीय
कानूनी और न्याजयक प्राजधकरणों, जिजनयामक जनकायों, बैंककारी कंपजनयों के ऐसे कायाटलयों में और केंद्रीय या
राज्य सरकारों के जिभागों, संस्ट्थाओं या संगरनों म,ें जिनके संबंध में पररषि ्द्वारा समय-समय पर जिजनश्चय दकया
िाए, औद्योजगक प्रजिक्ष ुके रूप में कायट कर सकेगा; या
(ख) न्यूनतम जनयत आजस्ट्तया ं या न्यूनतम सकल आित ट या न्यूनतम िेयर पूंिी रखन े िाले ऐसे जित्तीय,
िाजणजज्यक, औद्योजगक उपक्रमों में, जिन्ह ें पररषि ्द्वारा समय-समय पर अनुमोदित दकया िाए, औद्योजगक प्रजिक्ष ु
के रूप में कायट कर सकेगा ।
(3) कोई आर्र्टकल्ड सहायक इस प्रकार का औद्योजगक प्रजिक्षण प्राप्त करन े के अपने आिय की, ऐसे प्रजिक्षण के
आरंभ होन े की तारीख से कम से कम तीन मास पूिट अपन े प्प्रंजसपल को सूचना िेगा ।
(4) औद्योजगक प्रजिक्षण की अिजध नौ मास से लेकर अरारह मास तक की हो सकेगी ।
(5) औद्योजगक प्रजिक्षण संस्ट्थान के दकसी सिस्ट्य के अधीन ही प्राप्त दकया िाएगा । ऐसा कोई सहबद्ध, िो कम स े
कम तीन िष ट की जनरंतर अिजध के जलए सिस्ट्य रहा है, एक समय पर एक औद्योजगक प्रजिक्ष ुको प्रजिजक्षत करन े के
जलए हकिार होगा और कोई अध्येता एक समय पर िो औद्योजगक प्रजिक्षओंु को प्रजिजक्षत करन े के जलए हकिार
होगा, चाह ेऐसे प्रजिक्ष ुआर्र्टकल्ड सहायक हों या संपरीक्षा सहायक :
परंत ु केंद्रीय या राज्य सरकारों, केंद्रीय कानूनी और न्याजयक प्राजधकरणों, जिजनयामक जनकायों, बैंककारी कंपजनयों
के कायाटलयों में और केंद्रीय या राज्य सरकारों के अन्य जिभागों, संस्ट्थाओं या संगरनों की ििा में, औद्योजगक
प्रजिक्षण उस सरकार, प्राजधकरण, जनकाय, बैंक, केंद्रीय या राज्य सरकार के जिभाग, संस्ट्था या संगरन के ऐसे
अजधकारी, िो दक संस्ट्थान का सिस्ट्य भी हो, द्वारा प्रिान दकया िा सकेगा, जिसे पररषि ् द्वारा समय-समय पर
मान्यता प्रिान की िाए :
परंत ु यह और दक ऐसे अजधकारी, िो दक संस्ट्थान का सिस्ट्य भी हो, की औद्योजगक प्रजिक्षओंु को प्रजिक्षण प्रिान
करन े की हकिारी का अिधारण पररषि ् द्वारा समय-समय पर, सेिा के िषों की संख्या और संबद्ध जिभाग द्वारा
प्रिान की िा रही सेिाओं की प्रकृजत को ध्यान में रखते हुए दकया िाएगा ।
(6) प्रजिक्षण संबंधी एक करार पररषि ्द्वारा अनुमोदित प्ररूप में दकया िाएगा ।
(7) औद्योजगक प्रजिक्षण पूरा हो िाने पर, सिस्ट्य तरु ंत ही प्रजिक्षु को, पररषि ् द्वारा अनमु ोदित प्ररूप में एक
प्रमाणपत्र िारी करेगा और उसकी एक प्रजत सजचि को भी अग्रजे षत करेगा ।
(8) इस जिजनयम के अधीन जनर्िष्टट औद्योजगक प्रजिक्षण की अिजध को इन जिजनयमों के सभी प्रयोिनों के जलए
आर्र्टकल के अधीन सेिा के रूप में माना िाएगा परंतु उपजिजनयम (7) में जनर्िष्टट प्रमाणपत्र को प्रस्ट्तुत दकया िाना
होगा ।
(9) उपजिजनयम (1) के उपबंधों के अधीन रहत े हुए, कोई आर्र्टकल्ड सहायक दकसी जििेि म,ें उस िेि में जस्ट्थत
अंतराष्ट्रट ीय अकाउंर्ेंट्स फेडरेिन द्वारा मान्यताप्राप्त दकसी लखे ांकन जनकाय के दकसी सिस्ट्य के अधीन छह स े
अरारह मास की अिजध के औद्योजगक प्रजिक्षण को, ऐसी रीजत म,ें जिसे पररषि ् द्वारा समय-समय पर अिधाररत
दकया िाए, भी प्राप्त कर सकेगा ।
(10) कोई सिस्ट्य दकसी प्रजिक्षु को, ऐसी रीजत म,ें जिसे पररषि ् द्वारा समय-समय पर अिधाररत दकया िाए,
जििेि में तीन मास की अिजध तक का औद्योजगक प्रजिक्षण प्राप्त करन े की अनुज्ञा ि े सकेगा ।
(11) औद्योजगक प्रजिक्षु को ऐसे माजसक ििीफे का संिाय दकया िाएगा, जिसके संबंध में औद्योजगक प्रजिक्ष ु और
औद्योजगक प्रजिक्षण प्रिान करन े िाले सिस्ट्य के बीच म ेंपरस्ट्पर रूप से सहमजत हो ।”;[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3
(ii) जिजनयम 54 के उपजिजनयम (5) म,ें “एक िषट” िब्िों के स्ट्थान पर, “अरारह मास” िब्ि रखे िाएंग े;
(iii) जिजनयम 58 म ें:
(क) उपजिजनयम (2) म,ें--
(अ) “यदि अजतररि छुरियों की अिजध में उन प्प्रंसीपल के अधीन, जिसके साथ ऐसे आर्र्टकल्ड स्ट्र्ूडैंर् ने अपन े
आर्र्टकल्ड का कायट दकया था, कौंजसल द्वारा स्ट्िीकृत फामट आर्र्टकल्ड का पूरा काय ट जपछले आर्र्टकल्ड
को क्रमबद्धता के रूप में प्रस्ट्ततु करना होगा” िब्िों के स्ट्थान पर, “अजतररि छुरियों की अिजध में उस
प्प्रंसीपल के अधीन, जिसके साथ ऐसे आर्र्टकल्ड छात्र न े अपना आर्र्टकल्ड संबंधी कायट दकया था,
पररषि ् द्वारा स्ट्िीकृत प्ररूप में आर्र्टकल संबंधी परू ा कायट जपछले आर्र्टकल्ड को क्रमबद्ध रूप से प्रस्ट्ततु
करेगा” िब्ि रख ेिाएंगे ;
(आ) “अपने आर्र्टकल्ड का कायट दकया था” िब्िों के स्ट्थान पर, “अपना आर्र्टकल संबंधी कायट दकया था और”
िब्ि रखे िाएंग े;
(ख) उपजिजनयम (4) का लोप दकया िाएगा ।
सीए. (डा.) िय कुमार बत्रा, कायटकारी सजचि
[जिज्ञापन-III/4/असा./ 120/2021-22]
रर्प्प ण : मलू जिजनयम भारत के रािपत्र, असाधारण म ें अजधसूचना सं. 1-सीए(7)/134/88, तारीख 1 िून, 1988 द्वारा
प्रकाजित दकए गए थे और तत्प श् चात् जनन जलजखत संख् यांकों द्वारा संिोजधत दकए गए थे :--
(i) भारत के रािपत्र, तारीख 7 अक्त ूबर, 1989 में अजधसूचना सं. 1-सीए(7)/1/89 द्वारा प्रकाजित
(ii) भारत के रािपत्र, तारीख 19 िनिरी, 1991 में अजधसूचना सं. 1-सीए(7)/10/90 द्वारा प्रकाजित
(iii) भारत के रािपत्र, तारीख 19 िनिरी, 1991 में अजधसूचना सं. 1-सीए(7)/11/90 द्वारा प्रकाजित
(iv) भारत के रािपत्र, तारीख 23 फरिरी, 1991 में अजधसूचना सं. 1-सीए(7)/12/91 द्वारा प्रकाजित
(v) भारत के रािपत्र, तारीख 2 फरिरी, 1991 में अजधसूचना सं. 1-सीए(7)/13/90 द्वारा प्रकाजित
(vi) भारत के रािपत्र, तारीख 7 माचट, 1992 में अजधसूचना सं. 1-सीए(7)/19/92 द्वारा प्रकाजित
(vii) भारत के रािपत्र, तारीख 1 जसतंबर, 1995 में अजधसूचना सं. 1-सीए(7)/28/95 द्वारा प्रकाजित
(viii) भारत के रािपत्र, असाधारण, तारीख 13 माचट, 1996 में अजधसूचना सं. 1-सीए(7)/30/95 द्वारा प्रकाजित
(ix) भारत के रािपत्र, तारीख 16 अगस्ट् त, 1997 में अजधसूचना सं. 1-सीए(7)/31/97 द्वारा प्रकाजित
(x) भारत के रािपत्र, तारीख 26 फरिरी, 2000 में अजधसूचना सं. 1-सीए(7)/44/99 द्वारा प्रकाजित
(xi) भारत के रािपत्र, तारीख 26 फरिरी, 2000 में अजधसूचना सं. 1-सीए(7)/45/99 द्वारा प्रकाजित
(xii) भारत के रािपत्र, असाधारण, तारीख 17 अगस्ट् त, 2001 में अजधसूचना सं. 1-सीए(7)/51/2000 द्वारा प्रकाजित
(xiii) भारत के रािपत्र, असाधारण, तारीख 28 जसतंबर, 2001 में अजधसूचना सं. 1-सीए(7)/59/2001 द्वारा प्रकाजित
(xiv) भारत के रािपत्र, असाधारण, तारीख 31 माचट, 2003 में अजधसूचना सं. 1-सीए(7)/64/2002 द्वारा प्रकाजित
(xv) भारत के रािपत्र, असाधारण, तारीख 4 दिसंबर, 2003 में अजधसूचना सं. 1-सीए(7)/64ए/2003 द्वारा प्रकाजित
(xvi) भारत के रािपत्र, असाधारण, तारीख 28 िुलाई, 2005 में अजधसूचना सं. 1-सीए(7)/83/2005 द्वारा प्रकाजित
(xvii) भारत के रािपत्र, तारीख 17 िून, 2006 में अजधसूचना सं. 1-सीए(7)/84/2005 द्वारा प्रकाजित
(xviii) भारत के रािपत्र, तारीख 13 जसतंबर, 2006 में अजधसूचना सं. 1-सीए(7)/92/2006 द्वारा प्रकाजित
(xix) भारत के रािपत्र, तारीख 17 अगस्ट् त, 2007 में अजधसूचना सं. 1-सीए(7)/102/2007(अ) द्वारा प्रकाजित
(xx) भारत के रािपत्र, तारीख 25 जसतंबर, 2008 में अजधसूचना सं. 1-सीए(7)/116/2008 द्वारा प्रकाजित
(xxi) भारत के रािपत्र, तारीख 3 दिसंबर, 2008 म ेंअजधसूचना स.ं 1-सीए(7)/123/2008 द्वारा प्रकाजित
(xxii) भारत के रािपत्र, असाधारण, तारीख 1 अगस्ट् त, 2012 में अजधसूचना सं. 1-सीए(7)/145/2012 द्वारा प्रकाजित
(xxiii) भारत के रािपत्र, असाधारण, तारीख 22 िुलाई, 2014 में अजधसूचना सं. 1-सीए(7)/154/2014 द्वारा प्रकाजित
(xxiv) भारत के रािपत्र, असाधारण, तारीख 23 िनिरी, 2015 में अजधसूचना सं. 1-सीए(7)/167/2014 द्वारा प्रकाजित
(xxv) भारत के रािपत्र, असाधारण, तारीख 25 मई, 2017 में अजधसूचना सं. 1-सीए(7)/178/2016 द्वारा प्रकाजित
(xxvi) भारत के रािपत्र, असाधारण, तारीख 19 अिूबर, 2020 में अजधसूचना सं. 1-सीए(7)/193/2020 द्वारा प्रकाजित।4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
New Delhi, the 22nd June, 2021
NOTIFICATION
No. 1-CA(7)/196/2021.—Whereas certain draft regulations further to amend the Chartered Accountants
Regulations, 1988, were published as required by sub-section (3) of section 30 of the Chartered Accountants Act,
1949 (38 of 1949), in the Gazette of India, Extraordinary, Part III, Section 4, dated the 23rd September, 2020, inviting
objections and suggestions from persons likely to be affected thereby, before the expiry of forty-five days from the
date on which the said Gazette containing the said notification is made available to the public;
And Whereas the said Gazette was made available to the public on the 23rd September, 2020;
And Whereas the objections and suggestions received from the public on the said draft regulations have been
considered by the Council of the Institute;
Now, Therefore, in exercise of the powers conferred by sub-section (1) of section 30 of the said Act, the
Council, with the approval of the Central Government, hereby makes the following regulations further to amend the
Chartered Accountants Regulations, 1988, namely:-
1. Short title and Commencement, -
(1) These regulations may be called the Chartered Accountants (Amendment) Regulations, 2021.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Chartered Accountants Regulations, 1988, -
(i). for regulation 51, the following regulation shall be substituted, namely:-
“51. (1) An articled assistant who has passed the Intermediate (Professional Competence) Examination or Professional
Education (Examination-II) or Intermediate examination and has completed a minimum of eighteen months
of practical training according to these regulations shall be eligible for industrial training.
(2) (a) An articled assistant may, serve as an industrial trainee for a period specified in sub-regulation (4) in the
offices of the Central or State Governments, Central statutory and judicial authorities, regulatory bodies,
banking companies and such other departments of Central or State Governments, Institution or Organisation
as may be decided by the Council from time to time; or
(b) in any of the financial, commercial, industrial undertakings with minimum fixed assets or minimum
total turnover or minimum paid-up share capital as may be approved by the Council from time to time.
(3) An articled assistant shall inform to his principal about such industrial training at least three months before
the date on which such training is to commence.
(4) The period of industrial training may be between nine months to eighteen months.
(5) The industrial training shall be received under a member of the Institute. An Associate who has been a
member for a continuous period of at least three years shall be entitled to train one industrial trainee at a time
and a fellow shall be entitled to train two industrial trainees at a time, whether such trainees be articled
assistants or audit assistants.
Provided that in the case of the Central or State Governments, Central statutory and judicial
authorities, regulatory bodies, banking companies and other departments of Central or State Governments,
Institution or Organisation, the industrial training shall be imparted by an officer who is also a member of the
Institute of that Government, Authority, Body, Bank, Department of Central or State Government, Institution
or Organisation, as may be recognised by the Council from time to time.
Provided further that the entitlement of such officer who is also a member of the Institute to train the
industrial trainee shall be determined by the Council from time to time keeping in view the number of years
of service and the nature of services being rendered by the department concerned.
(6) An agreement of training shall be entered into in the form approved by the Council.[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 5
(7) On completion of the industrial training, the member shall issue a certificate in the form approved by the
Council to the trainee and forward a copy of the same to the Secretary.
(8) The period of industrial training referred under this regulation, shall be treated as service under articles for all
purposes of these Regulations, provided the certificate referred to in sub-regulation (7) is produced.
(9) Subject to the provisions of sub-regulation (1), an articled assistant may also serve as an industrial trainee for
a period from six to eighteen months in any foreign Country under a member of the accountancy body in that
country recognized by the International Federation of Accountants in such manner as may be determined by
the Council from time to time.
(10) A member may depute a trainee for industrial training upto a period of three months in any foreign Country,
in such manner as may be determined by the Council.
(11) The industrial trainee shall be paid such monthly stipend as may be agreed mutually between the industrial
trainee and the member imparting the industrial training.”;
(ii). in regulation 54, in sub-regulation (5), for the words “one year”, the words “eighteen months” shall be
substituted.
(iii). in regulation 58:
(a) in sub-regulation (2), -
(A) for the words “If the period of the excess leave taken is sought to be served”, the words “The period
of excess leave taken shall be served” shall be substituted;
(B) for the words “last served his articles,” the words “last served his articles and” shall be substituted;
(b) sub-regulation (4) shall be omitted.
[CA. (Dr.) JAI KUMAR BATRA, Acting Secy]
[ADVT.-III/4/Exty./120/2021-22]
Note: The principal regulations were published in the Gazette of India, Extraordinary, vide number 1-CA(7)/134/88
dated 1st June, 1988 and subsequently amended by the following numbers:-
(i) Notification No.1-CA(7)/1/89 published in the Gazette of India, dated 7th October, 1989
(ii) Notification No.1-CA(7)/10/90 published in the Gazette of India, dated 19th January, 1991
(iii) Notification No.1-CA(7)/11/90 published in the Gazette of India, dated 19th January, 1991
(iv) Notification No.1-CA(7)/12/91 published in the Gazette of India, dated 23rd February, 1991
(v) Notification No.1-CA(7)/13/90 published in the Gazette of India, dated 2nd February, 1991
(vi) Notification No.1-CA(7)/19/92 published in the Gazette of India, dated 7th March, 1992.
(vii) Notification No.1-CA(7)/28/95 published in the Gazette of India dated 1st September, 1995
(viii) Notification No.1-CA(7)/30/95 published in the Gazette of India, Extraordinary dated 13th March, 1996
(ix) Notification No. 1-CA(7)/31/97 published in the Gazette of India, dated 16th August, 1997
(x) Notification No. 1-CA(7)/44/99 published in the Gazette of India dated 26th February, 2000
(xi) Notification No.1-CA(7)/45/99 published in the Gazette of India, dated 26th February, 2000
(xii) Notification No.1-CA(7)/51/2000 published in the Gazette of India, Extraordinary, dated 17th August, 2001
(xiii) Notification No.1-CA(7)/59/2001 published in the Gazette of India, Extraordinary dated 28th September,
2001
(xiv) Notification No.1-CA(7)/64/2002 published in the Gazette of India, Extraordinary dated 31st March, 2003
(xv) Notification No.1-CA(7)/64A/2003 published in the Gazette of India, Extraordinary dated 4th December,
2003
(xvi) Notification No.1-CA(7)/83/2005 published in the Gazette of India, Extraordinary dated 28th July, 2005
(xvii) Notification No.1-CA(7)/84/2005 published in the Gazette of India, dated 17th June, 2006
(xviii) Notification No. 1-CA(7)/92/2006 published in the Gazette of India, dated 13th September, 2006
(xix) Notification No. 1-CA(7)/102/2007(E) published in the Gazette of India, dated 17th August, 2007
(xx) Notification No.1-CA(7)/116/2008 published in the Gazette of India, dated 25th September, 20086 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
(xxi) Notification No.1-CA(7)/123/2008 published in the Gazette of India, dated 3rd December, 2008
(xxii) Notification No. 1-CA(7)/145/2012 published in the Gazette of India, Extraordinary dated 1st August, 2012
(xxiii) Notification No. 1-CA(7)/154/2014 published in the Gazette of India, Extraordinary dated 22nd July, 2014
(xxiv) Notification No. 1-CA(7)/167/2014 published in the Gazette of India, Extraordinary dated 23rd January, 2015.
(xxv) Notification No.1-CA(7)/178/2016 published in the Gazette of India, Extraordinary dated 25th May, 2017.
(xxvi) Notification No.1-CA(7)/193/2020 published in the Gazette of India, Extraordinary dated 19th October, 2020.
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.