Gazette Notification w.r.t New Scheme of Education and Training

Gazette Notification w.r.t New Scheme of Education and Training

No.1-CA(7)/201/2023.—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 2nd June, 2022, inviting objections and suggestions from persons likely to be affected thereby, before the expiry of thirty days from the date on which the copies of the Gazette containing the said notification were made available to the public;

AND WHEREAS the said Gazette was made available to the public on the 2nd June, 2022;

AND WHEREAS the objections and suggestions received from the public on the said draft regulations have been considered by the Council of the Institute of Chartered Accountants of India;

NOW, THEREFORE, in exercise of the powers conferred by section 30 of the Chartered Accountants Act, 1949 (38 of 1949), the Council of the Institute of Chartered Accountants of India, with the approval of the Central Government, hereby makes the following regulations further to amend the Chartered Accountants Regulations, 1988, namely:—

1. (1) These regulations may be called the Chartered Accountants (Amendment) Regulations, 2023.
   (2) They shall come into force on the date of their publication in the Official Gazette.
   
2. In the Chartered Accountants Regulations, 1988 (hereinafter referred to as the said regulations), regulations 25C and 25D shall be omitted.
   
3. In regulation 25E of the said regulations, —
   
   (a) in sub-regulation (1), after the words “by law in India”, the words “or outside India” shall be inserted;
   
   (b) in sub-regulation (2), the following proviso shall be inserted, namely: —
   “Provided that a candidate who is residing outside India shall pay such fees as may be fixed by the Council from time to time.”;
   
   (c) after sub-regulation (2), the following sub-regulations shall be inserted, namely: —
   “(3) A candidate who was already registered for the Common Proficiency Course under regulation 25C or Foundation Course, on or before the commencement of the Chartered Accountants (Amendment) Regulations, 2023, shall be eligible for conversion to the Foundation Course subject to such conditions as may be specified by the Council.
   (4) The registration for the Foundation Course shall be valid only for a period of four years from the date of first eligible attempt in the Foundation Examination under regulation 25F after the commencement of the Chartered Accountants (Amendment) Regulations, 2023”.

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