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Chartered Accountants (Amendment) Act, 2006

The Government of India, Ministry of Company Affairs vide Notification No. S.O. 1276(E) dated 8th August, 2006 published in the Gazette of India, Extraordinary, Part II – Section 3 – Sub-section (ii) dated 10th August, 2006, has appointed the 8th August, 2006, as the date of coming into force of certain provisions of the Chartered Accountants (Amendment) Act, 2006. The relevant sections of the Chartered Accountants (Amendment) Act, 2006 which have come into force, as aforesaid, as well as the corresponding section of the original Act and area/subject matter are given below for general information of members, students and others:-

Sl. No.

Section of the Amendment Act

Section of the original Act

Area/Subject Matter

1

1

Preamble

Short title and commencement

2

2

2

Definitions

3

3

4(3)

Fee for entry of names in the register

4

4

5(3)

Fee for fellows and associates

5

5

6(2) & (3)

Fee for certificate of practice and cancellation of Certificate of Practice

6

7

10

Re-election or re-nomination to Council including cap on number of terms

7

9

12

President and Vice-President

8

12

New Section 15A

Imparting education by universities

9

16 [excepting Clause (i)]

19(4)

Annual Membership fee

10.

17

20

Restoration of name in the register

11

22

24A

Omission of section 24A(3) regarding non-applicability of provisions of Section 24A to Universities established by law etc.

12

23

26

Consequences of Unqualified persons signing the documents on behalf of firm of Chartered Accountants etc.

13

25

New Section 29A

New section empowering government to frame rules

14

26

30

Change of nomenclature, articled/ audit clerks to articled/audit assistants etc.

15

27

30B

New section regarding laying of papers in the Parliament

16

28 [excepting new Sections 30D and 30E relating to protection of action taken in good faith and certain categories of persons and officials etc. to be treated as public servants.

New Section 30C

Power of Central Government to issue directions to Council and dissolution etc.

(T. Karthikeyan)
Director

17th August, 2006

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