Government introduced Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021 in Lok Sabha on 17th December 2021. Clause wise Analysis & Reason for introduction of the bill are as follows:-
STATEMENT OF OBJECTS AND REASONS
The Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980 (hereinafter referred to as the Acts), were enacted to make provision for the regulation of the profession of the chartered accountants, cost accountants and company secretaries, respectively. On account of changes in the economic and corporate environment in the country, it has become necessary to amend the Acts. Further, recent corporate events have put the profession of chartered accountancy under a considerable scrutiny.
2. The amendments to the Acts are based on the recommendations of a High Level Committee constituted by the Ministry of Corporate Affairs, inter alia, to examine the existing provisions in the Acts and the rules and regulations made thereunder, for dealing with the cases of misconduct in the three Professional Institutes, namely, the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India and the Institute of Company Secretaries of India and with a view to strengthening the existing mechanism and ensure speedy disposal of the disciplinary cases.
3. The Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021 proposes to further amend The Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980, inter alia, to—
(i) strengthen the disciplinary mechanism by augmenting the capacity of the Disciplinary Directorate to deal with the complaints and information and providing time bound disposal of the cases by specifying the time limits for speedy disposal of the cases against members of the Institutes;
(ii) address conflict of interest between the administrative and disciplinary arms of the Institute;
(iii) provide for a separate chapter on registration of firms with the respective Institutes and include firms under the purview of the disciplinary mechanism;
(iv) enhance accountability and transparency by providing for audit of accounts of the Institutes by a firm of chartered accountants to be appointed annually by the Council from the panel of auditors maintained by the Comptroller and Auditor-General of India;
(v) provide for autonomy to the Council of the respective Institutes to fix various fees.
4. The Bill seeks to achieve the above objectives.
NIRMALA SITHARAMAN.
NEW DELHI;
The 11th December, 2021.
Notes on Clauses
Chartered Accountants
Clause 2 of the Bill seeks to amend the long title and preamble of the Chartered Accountants Act, 1949 (the Act) by including the word “development” therein.
Clause 3 of the Bill seeks to amend section 2 of the Act to insert certain definitions therein such as Board of Discipline, Coordination Committee, Companies Act, Director (Discipline), Disciplinary Committee, Disciplinary Directorate, fellow and Standing Committee and to modify the definitions of Council, notification and Register.
Clause 4 of the Bill seeks to amend section 4 of the Act to substitute the word “Register” with the words “Register of members” and to empower the Council of the Institute of Chartered Accountants of India (the Institute) to decide fee required for entry of names in the Register of members and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 5 of the Bill seeks to amend section 5 of the Act to substitute the word “Register” with words “Register of members”, to empower the Council to decide fees required for entry of names in the Register of members as a fellow and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 6 of the Bill seeks to amend section 6 of the Act to empower the Council to decide fee for grant of certificate of practice and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 7 of the Bill seeks to amend section 8 of the Act to substitute the word “Register” with words “Register of members” and to include bankruptcy as a disqualification for member.
Clause 8 of the Bill seeks to amend section 9 of the Act to substitute the word “Register” with words “Register of members” and to increase the period of disqualification of a member from contesting the election to the Council.
Clause 9 of the Bill seeks to insert new section 9A to provide for a Coordination Committee consisting of the President, Vice-President and the Secretary of the Council of each of the Institutes of Chartered Accountants of India, the Cost Accountants of India and the Company Secretaries of India for the development and harmonisation of the professions of Chartered Accountants, Cost Accountants and Company Secretaries.
Clause 10 of the Bill seeks to amend section 10 of the Act to limit the consecutive terms for Council members from three to two.
Clause 11 of the Bill seeks to amend section 12 of the Act to designate the President of the Institute as the Head of the Institute and to provide for the functions of the President and the Vice-President of the Institute.
Clause 12 of the Bill seeks to amend section 13 of the Act to substitute the word “Register” with the words “Register of members”.
Clause 13 of the Bill seeks to amend section 14 of the Act to increase the term of the Council from three years to four years.
Clause 14 of the Bill seeks to amend section 15 of the Act to provide for certain additional functions of the Council.
Clause 15 of the Bill seeks to introduce new section 15B to provide for the functions of the Institute.
Clause 16 of the Bill seeks to amend section 16 of the Act to provide that the Secretary shall be the Chief Executive Officer and to appoint Director (Discipline) and Joint Directors (Discipline), of the Institute. It further empowers the Council to make regulations for the manner of appointment, powers, duties and functions of the Secretary and other officers and employees, their salaries, fees, allowances and other terms and conditions of service.
Clause 17 of the Bill seeks to amend section 18 of the Act to provide for audit of the annual accounts of the Council by a firm of chartered accountants, to be appointed by Council from the panel of auditors maintained by the Comptroller and Auditor-General of India.
Clause 18 of the Bill seeks to amend section 19 of the Act to substitute the word “Register” with words “Register of members”, to maintain a Register of members of the Institute in accordance with the regulations, to empower the Council to determine the fees for registration of members and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 19 of the Bill seeks to amend section 20 of the Act to substitute the word “Register” with the words “Register of members”, to empower the Council to determine the fees for renewal of registration of members and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 20 of the Bill seeks to insert a new Chapter IVA to provide for the registration and register of firms and for the removal of names from the Register of firms and review before the Council.
Clause 21 of the Bill seeks to substitute section 21 of the Act to modify the composition of the Disciplinary Directorate by including at least two Joint Directors (Discipline) along with a Director (Discipline), simplify the investigation by classifying complaints or information into actionable and non-actionable within stipulated timeframe and to substitute the prima facie opinion report with preliminary examination report, to prohibit the withdrawal of complaints and to empower the Central Government to make rules for procedures to be followed by Disciplinary Directorate.
Clause 22 of the Bill seeks to substitute section 21A of the Act to empower the Central Government to establish one or more Boards of Discipline, each comprising of a Presiding Officer to be nominated by the Central Government and two members of whom one shall be nominated by the Central Government and one member to be nominated by the Council. It further seeks to fix a timeframe for completion of inquiry by Boards of Discipline, empower the Central Government to make rules for procedures to be followed by the Boards of Discipline, modify penalty provisions for misconduct by members of the Institute, provide for inclusion of firms of chartered accountants under the purview of disciplinary mechanism and to empower the Council to remove names from the Register on non-payment of penalties imposed under the Bill.
Clause 23 of the Bill seeks to substitute section 21B of the Act to empower the Central Government to establish one or more Disciplinary Committees, each comprising of a Presiding Officer to be nominated by the Central Government and four members of which two shall be nominated by the Central Government and two members to be nominated by the Council. It further seeks to fix a timeframe for completion of inquiry by Disciplinary Committees and to empower the Central Government to make rules for procedures to be followed by it, modify penalty provisions for misconduct by members of the Institute and to provide for inclusion of firms of chartered accountants under the purview of disciplinary mechanism. It also seeks to empower the Council to remove names from the Register on non-payment of penalties imposed under the Bill.
Clause 24 of the Bill seeks to amend section 21C of the Act to omit the Explanation of member of the Institute.
Clause 25 of the Bill seeks to substitute section 21D of the Act to make transitional provisions with respect to proposed amendment.
Clause 26 of the Bill seeks to substitute section 22 of the Act to modify the definition of professional or other misconduct.
Clause 27 of the Bill seeks to amend section 22G of the Act to make consequential amendments for inclusion of firms of the chartered accountants under the purview of disciplinary mechanism, define member and firm for the purpose of disciplinary actions and
to provide for scope of actions against the members or firms registered with the Institute under any other law.
Clause 28 of the Bill seeks to amend section 24 of the Act to enhance penalties for falsely claiming to be a member of the Institute, etc.
Clause 29 of the Bill seeks to amend section 24A of the Act to enhance penalties for using name of the Council, awarding degree of chartered accountancy, etc.
Clause 30 of the Bill seeks to amend section 25 of the Act to enhance penalties for prohibiting companies not to engage in accountancy.
Clause 31 of the Bill seeks to amend section 26 of the Act to enhance penalties for signing of documents by unqualified persons.
Clause 32 of the Bill seeks to amend section 28B to provide for additional functions for Quality Review Board.
Clause 33 of the Bill seeks to amend section 29 of the Act to substitute the word “Register” with words “Register of members”.
Clause 34 of the Bill seeks to amend section 29A of the Act to empower Central Government to make rules.
Clause 35 of the Bill seeks to amend section 30 of the Act to empower the Council of the Institute to make regulations.
Clause 36 of the Bill seeks to amend the First Schedule of the Act.
Clause 37 of the Bill seeks to amend the Second Schedule of the Act.
Cost and Works Accountants
Clause 38 of the Bill seeks to amend the long title and preamble of the Cost and Works Accountants Act, 1959 (the Act) by including the word “development” therein and omitting the word “works” there from.
Clause 39 of the Bill seeks to amend section 1 of the Act to align the name of the Act with the long title.
Clause 40 of the Bill seeks to amend section 2 of the Act to insert certain definitions therein such as Board of Discipline, Companies Act, Director (Discipline), Disciplinary Committee, Disciplinary Directorate, Standing Committee and to modify the definitions of fellow, notification and Register.
Clause 41 of the Bill seeks to amend heading of Chapter II of the Act to amend the name of the Institute from the Institute of Cost and Works Accountants to Institute of Cost Accountants.
Clause 42 of the Bill seeks to amend section 4 of the Act to substitute the word “Register” with the words “Register of members”, empower the Council of the Insitute of Cost Accountants of India (the Institute) to decide fee required for entry of names in the Register of members and to dispense with the condition of prior approval of Central Government.
Clause 43 of the Bill seeks to amend section 5 of the Act to substitute the word “Register” with words “Register of members”, to empower the Council to decide fees required for entry of names in the Register of members as a fellow and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 44 of the Bill seeks to amend section 6 of the Act to empower the Council to decide fee for grant of certificate of practice and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 45 of the Bill seeks to amend section 8 of the Act to substitute the word “Register” with words “Register of members” and to include bankruptcy as a disqualification for member.
Clause 46 of the Bill seeks to amend section 9 of the Act to substitute the word “Register” with words “Register of members” and to increase the period of disqualification of a member from contesting the election to the Council.
Clause 47 of the Bill seeks to amend section 12 of the Act to provide for the functions of the President and the Vice-President of the Institute.
Clause 48 of the Bill seeks to amend section 13 of the Act to substitute the word “Register” with the words “Register of members”.
Clause 49 of the Bill seeks to amend section 15 of the Act to provide for certain additional functions of the Council.
Clause 50 of the Bill seeks to amend section 15A of the Act to provide for certain additional functions of the Institute.
Clause 51 of the Bill seeks to amend section 16 of the Act to provide that the Secretary shall be the Chief Executive Officer and to appoint Director (Discipline) and Joint Directors (Discipline), of the Institute. It further empowers the Council to make regulations for the manner of appointment, powers, duties and functions of the Secretary and other officers and employees, their salaries, fees, allowances and other terms and conditions of service.
Clause 52 of the Bill seeks to amend section 18 of the Act to provide for audit of the annual accounts of the Council by a firm of chartered accountants, to be appointed by Council from the panel of auditors maintained by the Comptroller and Auditor-General of
India.
Clause 53 of the Bill seeks to amend section 19 of the Act to substitute the word “Register” with words “Register of members”, to maintain a Register of members of the Institute in accordance with the regulations, to empower the Council to determine the fees
for registration of members and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 54 of the Bill seeks to amend section 20 of the Act to substitute the word “Register” with words “Register of members”, to empower the Council to determine the fees for renewal of registration of members and to dispense with the condition of prior approval
of Central Government to determine such fees.
Clause 55 of the Bill seeks to introduce new chapter IVA to provide for the registration and register of firms and for the removal of names from the Register of firms and review before the Council.
Clause 56 of the Bill seeks to substitute section 21 of the Act to modify the composition of the Disciplinary Directorate by including at least two Joint Directors (Discipline) along with a Director (Discipline), simplify the investigation by classifying complaints or information into actionable and non-actionable within stipulated timeframe and to substitute the prima facie opinion report with preliminary examination report, to prohibit the withdrawal of complaints and to empower the Central Government to make rules for procedures to be followed by Disciplinary Directorate.
Clause 57 of the Bill seeks to substitute section 21A of the Act to empower the Central Government to establish one or more Boards of Discipline, each comprising of a Presiding Officer to be nominated by the Central Government and two members of whom one shall be nominated by the Central Government one member to be nominated by the Council. It further seeks to fix a timeframe for completion of inquiry by Boards of Discipline, empower the Central Government to make rules for procedures to be followed by the Boards of Discipline, modify penalty provisions for misconduct by members of the Institute, provide for inclusion of firms of cost accountants under the purview of disciplinary mechanism and to empower the Council to remove names from the Register on non-payment of penalties imposed under the Bill.
Clause 58 of the Bill seeks to substitute section 21B of the Act to empower the Central Government to establish one or more Disciplinary Committees, each comprising of a Presiding Officer to be nominated by the Central Government and four members of which two shall be nominated by the Central Government and two members to be nominated by the Council. It further seeks to fix a timeframe for completion of inquiry by Disciplinary Committees and to empower the Central Government to make rules for procedures to be followed by it, modify penalty provisions for misconduct by members of the Institute and to provide for inclusion of firms of cost accountants under the purview of disciplinary mechanism. It also seeks to empower the Council to remove names from the Register on non-payment of penalties imposed under the Bill.
Clause 59 of the Bill seeks to amend section 21C of the Act to omit the Explanation of member of the Institute.
Clause 60 of the Bill seeks to substitute section 21D of the Act to make transitional provisions with respect to proposed amendment.
Clause 61 of the Bill seeks to substitute section 22 of the Act to modify the definition of professional or other misconduct.
Clause 62 of the Bill seeks to amend section 22E of the Act to make consequential amendments for inclusion of firms of the cost accountants under the purview of disciplinary mechanism, define member and firm for the purpose of disciplinary actions and to provide for scope of actions against the members or firms registered with the Institute under any other law.
Clause 63 of the Bill seeks to amend section 24 of the Act to enhance penalties for falsely claiming to be a member of the Institute, etc.
Clause 64 of the Bill seeks to amend section 25 of the Act to enhance penalties for using name of the Council, awarding degree of cost accountancy, etc.
Clause 65 of the Bill seeks to amend section 26 of the Act to enhance penalties for prohibiting companies not to engage in cost accountancy.
Clause 66 of the Bill seeks to amend section 27 of the Act to enhance penalties for signing of documents by unqualified persons.
Clause 67 of the Bill seeks to insert a new provision in the section 29B to provide for additional functions for Quality Review Board.
Clause 68 of the Bill seeks to substitute section 34 of the Act to provide that the Coordination Committee constituted under section 9A of the Chartered Accountants Act, 1949 shall be deemed to be the Coordination Committee for the purposes of the Act.
Clause 69 of the Bill seeks to amend section 38 of the Act to substitute the word “Register” with words “Register of members”.
Clause 70 of the Bill seeks to amend section 38A of the Act to empower Central Government to make rules.
Clause 71 of the Bill seeks to amend section 39 of the Act to empower the Council of the Institute to make regulations.
Clause 72 of the Bill seeks to amend the First Schedule of the Act. Clause 73 of the Bill seeks to amend the Second Schedule of the Act.
Company Secretaries
Clause 74 of the Bill seeks to amend section 2 of the Company Secretaries Act, 1980 (the Act) to insert certain definitions therein such as Board of Discipline, Director (Discipline), Disciplinary Committee, Disciplinary Directorate, and Standing Committee and to modify the definitions of Companies Act, notification and Register.
Clause 75 of the Bill seeks to amend section 4 of the Act to substitute the word “Register” with the words “Register of members” and to empower the Council of the Institute of Company Secretaries of India (the Institute) to decide fee required for entry of names in the Register of members and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 76 of the Bill seeks to amend section 5 of the Act to substitute the word “Register” with words “Register of members”, to empower the Council to decide fees required for entry of names in the Register of members as a fellow and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 77 of the Bill seeks to amend section 6 of the Act to empower the Council to decide fee for grant of certificate of practice and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 78 of the Bill seeks to amend section 8 of the Act to substitute the word “Register” with words “Register of members” and to include bankruptcy as a disqualification for member.
Clause 79 of the Bill seeks to amend section 9 of the Act to substitute the word “Register” with words “Register of members” and to increase the period of disqualification of a member from contesting the election to the Council.
Clause 80 of the Bill seeks to amend section 12 of the Act to provide for the functions of the President and the Vice-President of the Institute.
Clause 81 of the Bill seeks to amend section 13 of the Act to substitute the word “Register” with the words “Register of members”.
Clause 82 of the Bill seeks to amend section 15 of the Act to provide for certain additional functions of the Council.
Clause 83 of the Bill seeks to amend section 15A of the Act to provide for certain additional functions of the Institute.
Clause 84 of the Bill seeks to amend section 16 of the Act to provide that the Secretary shall be the Chief Executive Officer and to appoint Director (Discipline) and Joint Directors (Discipline), of the Institute. It further empowers the Council to make regulations for the manner of appointment, powers, duties and functions of the Secretary and other officers and employees, their salaries, fees, allowances and other terms and conditions of service.
Clause 85 of the Bill seeks to amend section 18 of the Act to provide for audit of the annual accounts of the Council by a firm of chartered accountants, to be appointed by Council from the panel of auditors maintained by the Comptroller and Auditor-General of India.
Clause 86 of the Bill seeks to amend section 19 of the Act to substitute the word “Register” with words “Register of members”, to maintain a Register of members of the Institute in accordance with the regulations, to empower the Council to determine the fees for registration of members and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 87 of the Bill seeks to amend section 20 of the Act to substitute the word “Register” with words “Register of members”, to empower the Council to determine the fees for renewal of registration of members and to dispense with the condition of prior approval of Central Government to determine such fees.
Clause 88 of the Bill seeks to insert a new Chapter IVA to provide for the registration and register of firms and for the removal of names from the Register of firms and review before the Council.
Clause 89 of the Bill seeks to substitute section 21 of the Act to modify the composition of the Disciplinary Directorate by including at least two Joint Directors (Discipline) along with a Director (Discipline), simplify the investigation by classifying complaints or information into actionable and non-actionable within stipulated timeframe and to substitute the prima facie opinion report with preliminary examination report, to prohibit the withdrawal of complaints and to empower the Central Government to make rules for procedures to be followed by Disciplinary Directorate.
Clause 90 of the Bill seeks to substitute section 21A of the Act to empower the Central Government to establish one or more Boards of Discipline, each comprising of a Presiding Officer and two members, of whom one shall be nominated by the Council and one member to be nominated by the Central Government. It further seeks to fix a timeframe for completion of inquiry by Boards of Discipline, empower the Central Government to make rules for procedures to be followed by the Boards of Discipline, modify penalty provisions for misconduct by members of the Institute, provide for inclusion of firms of company secretaries under the purview of disciplinary mechanism and to empower the Council to remove names from the Register on non-payment of penalties imposed under the Bill.
Clause 91 of the Bill seeks to amend section 21B of the Act to empower the Central Government to establish one or more Disciplinary Committees, each comprising of a Presiding Officer to be nominated by the Central Government and four members of which two shall be nominated by the Central Government and two members to be nominated by the Council. It further seeks to fix a timeframe for completion of inquiry by Disciplinary Committees and to empower the Central Government to make rules for procedures to be followed by it, modify penalty provisions for misconduct by members of the Institute and to provide for inclusion of firms of company secretaries under the purview of disciplinary mechanism. It also seeks to empower the Council to remove names from the Register on non-payment of penalties imposed under the Bill.
Clause 92 of the Bill seeks to amend section 21C of the Act to omit the Explanation of member of the Institute.
Clause 93 of the Bill seeks to substitute section 21D of the Act to make transitional provisions with respect to proposed amendment.
Clause 94 of the Bill seeks to substitute section 22 of the Act to modify the definition of professional or other misconduct.
Clause 95 of the Bill seeks to amend section 22E of the Act to make consequential amendments for inclusion of firms of the company secretaries under the purview of disciplinary mechanism, define member and firm for the purpose of disciplinary actions and to provide for scope of actions against the members or firms registered with the Institute under any other law.
Clause 96 of the Bill seeks to amend section 24 of the Act to enhance penalties for falsely claiming to be a member of the Institute, etc.
Clause 97 of the Bill seeks to amend section 25 of the Act to enhance penalties for using name of the Council, awarding degree of company secretary, etc.
Clause 98 of the Bill seeks to amend section 26 of the Act to enhance penalties for prohibiting companies not to engage in company secretaryship.
Clause 99 of the Bill seeks to amend section 27 of the Act to enhance penalties for signing of documents by unqualified persons.
Clause 100 of the Bill seeks to amend section 29B to provide for additional functions for Quality Review Board.
Clause 101 of the Bill seeks to amend section 34 of the Act to provide that the Coordination Committee constituted under section 9A of the Chartered Accountants Act, 1949 shall be deemed to be the Coordination Committee for the purposes of the Act.
Clause 102 of the Bill seeks to amend section 38 of the Act to substitute the word “Register” with words “Register of members”.
Clause 103 of the Bill seeks to amend section 38A of the Act to empower Central Government to make rules.
Clause 104 of the Bill seeks to amend section 39 of the Act to empower the Council of the Institute to make regulations.
Clause 105 of the Bill seeks to amend the First Schedule of the Act. Clause 106 of the Bill seeks to amend the Second Schedule of the Act.
FINANCIAL MEMORANDUM
The Bill does not involve any expenditure, recurring or non-recurring, from the Consolidated Fund of India.
MEMORANDUM REGARDING DELEGATED LEGISLATION
Clause 34 of the Bill empowers the Central Government to make rules to provide for the form and fee for filing an information or a complaint before the Disciplinary Directorate, the manner of decision of the complaint or information as actionable or non-actionable by the Director (Discipline), procedure of investigation by the Disciplinary Directorate and procedure while considering the cases by the Board of Discipline and the Disciplinary Committee and time limit for payment of fine imposed by such Boards or Committees.
2. Clause 35 of the Bill empowers the Council of the Institute of Chartered Accountants of India to make regulations for the qualifications of a member of the Institute, circumstances under which certificates of practice may be cancelled, guidelines for granting or refusal of certificates of practice, manner of appointment, powers, duties, functions, salaries, fees, allowances and other terms and conditions of service of the Secretary and other officers and employees of the Council, manner of preparing annual accounts of the Council, manner of maintaining a Register of members of the Institute, manner in which annual list of members registered with the Institute shall be published, manner of making an application for grant of registration of a firm and the terms and conditions of such registration, manner of maintenance of Register of firms, manner in which the annual list of firms registered with the Institute shall be published, allowances payable to the Presiding Officers and members of the Boards of Discipline and Disciplinary Committees, manner of making available status of actionable information and complaints and penalties imposed by the Boards of Discipline, the Disciplinary Committees and the Appellate Authority, manner of preparing panel of persons for nomination to such Boards and Committees.
3. Clause 70 of the Bill empowers the Central Government to make rules to provide for the form and fee for filing an information or a complaint before the Desciplinary Directorate, manner of deciding a complaint or information as actionable or non-actionable by Director (Discipline), procedure of investigation by the Disciplinary Directorate, procedure while considering the cases by the Boards of Discipline and the Disciplinary Committees and the time limit for payment of fine imposed by such Boards or Committees.
4. Clause 71 of the Bill empowers the Council of the Institute of the Cost Accountants of India to make regulations for prescribing the circumstances under which certificates of practice may be cancelled, guidelines for granting or refusal of certificates of practice, manner of appointment, powers, duties, functions, salaries, fees, allowances and other terms and conditions of service of the Secretary and other officers and employees of the Council, manner of preparing the annual accounts of the Council, manner of maintaining a Register of members of the Institute, manner of making an application for grant of registration of a firm and the terms and conditions of such registration, manner of maintenance of Register of firms, manner in which the annual list of firms registered with the Institute shall be published, manner of making available status of actionable information and complaints and penalties imposed by the Boards of Discipline, the Disciplinary Committees and the Appellate Authority, manner of preparing panel of persons for nomination to the Boards of Discipline and Disciplinary Committees and allowances payable to the Presiding Officers and members of such Boards and Committees.
5. Clause 103 of the Bill empowers the Central Government to make rules to provide for the form and fee for filing an information or a complaint before the Discliplinary Directorate, manner of decision of the complaint or information as actionable or non-actionable by the Director (Discipline), procedure of investigation by the Disciplinary Directorate and procedure while considering the cases and by the Boards of Discipline and the Disciplinary Committee and time limit for payment of fine imposed by such Boards or Committees.
6. Clause 104 of the Bill empowers the Council of the Institute of the Company Secretaries of India to make regulations for prescribing the circumstances under which certificates of practice may be cancelled, powers, duties and functions of the President and the Vice-President of the Council, guidelines for granting or refusal of certificates of practice, manner of appointment, powers, duties, functions, salaries, fees, allowances and other terms and conditions of service of the Secretary and other officers and employees of the Council, manner of preparing the annual accounts of the Council, manner of making an application for grant of registration of a firm and the terms and conditions of such registration, manner of maintenance of Register of firms, manner in which the annual list of firms registered with the Institute shall be published, manner of making available status of actionable information and complaints and penalties imposed by the Boards of Discipline, the Disciplinary Committees and the Appellate Authority, the manner of preparing panel of persons for nomination to the Boards of Discipline and Disciplinary Committees and the allowances payable to the Presiding Officers and members of such Boards and Committees.
7. The matters in respect of which rules and regulations may be made are matters of procedure and administrative detail and it is not practicable to provide for them in the Bill itself. The delegation of legislative powers is, therefore, of a normal character.
