THE INSTITUTE OF
Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE
Statutory body under an Act of Parliament
(Under the jurisdiction of Ministry of Corporate Affairs)
File No.205:Exams:2022
Dated, the 21st February, 2022
ANNOUNCEMENT
ICSI/CS/03/2022
MERIT-CUM-MEANS ASSISTANCE SCHEME, 1983
In pursuance of para 13 of the “Merit-cum-Means Assistance (Company Secretaryship Course) Scheme, 1983”, as amended upto 9th April, 2015, applications are invited to reach the Institute in the prescribed form on or before 25″ May, 2022 for award of 25 numbers of financial assistance each for pursuing Executive Programme and Professional Programme of the “Company Secretaryship” from students who fulfil the eligibility criteria laid down under the said scheme.
According to the scheme, a candidate applying for assistance should have passed Foundation Programme or Both Modules of the Executive Programme examination without exemption in any paper, at one sitting, in the first attempt in CS December, 2021 examination and that Foundation passed candidate should registered as regular student for pursuing Executive Programme within three months from the date of declaration of their result. The total income of such an applicant, if employed or is having an independent source of income, should not be more than Rs.2,40,000/- per annum and if he/she is dependent on his/her parents/guardian/spouse whether partially or wholly, the combined gross income from all sources should not be more than Rs.3,60,000/- per annum.
Prescribed application form together with a copy of the Merit-cum-Means Assistance (Company Secretaryship Course) Scheme, 1983 can be downloaded from the Institute’s Website at https ://www.icsi .edu/media/website/Application%20Form .pdf. Applications not made on the prescribed forms and/or without supporting documents, incomplete applications, applications not fulfilling the eligibility criteria laid down under the scheme or applications not reaching the Institute on or before 25″ May, 2022 are liable to be summarily rejected.
BY ORDER OF THE COUNCIL
(CS ASISH MOHAN)
SECRETARY
New Delhi — 110 003
Merit-cum-Means Assistance (Company Secretaryship Course) Scheme, 1983
(As amended upto 9th April, 2015)
1. OBJECT
The scheme is intended to provide financial assistance to the economically needy candidates to enable them to pursue the Company Secretaryship course.
2. TITLE
The scheme shall be called “Merit-cum-Means Assistance (Company Secretaryship Course) Scheme, 1983”.
3. DATE OF COMMENCEMENT
The scheme shall come into force from 1st March, 1983.
4. ADMINISTERING AUTHORITY
The Examination Committee of the Council shall be the administering authority of the scheme.
5. DEFINITIONS AND INTERPRETATION
5.1 Definitions: In the scheme, unless the context otherwise requires, all definitions and expressions as given in the ‘Company Secretaries Regulations, 1982’ as amended from time to time, shall equally be applicable for giving effect to the scheme.
5.2 Interpretation : The interpretation as may be given by the Secretary/Chief Executive on any matter pertaining to the scheme specified or not specified herein shall be applicable unless otherwise decided by the Examination Committee as provided in para 18 of this scheme.
6. ELIGIBILITY FOR APPLYING FOR ASSISTANCE
6.1 Any candidate fulfilling the conditions provided herein is eligible to apply for award of financial assistance under this scheme.
6.2 Award of Assistance: The financial assistance will be granted only to a registered student.
6.3 Assistance for Executive Programme/Intermediate Course:
The candidate should —
-
- have passed all the papers of Foundation Programme/ Foundation examination at one sitting, in the first attempt, without claiming exemption in any paper, and secured a minimum of 50 per cent marks in the aggregate;
- have applied for registration as a student of the Institute by making the application in the prescribed form(s) together with the requisite registration fee and also for financial assistance in the form appended hereto within three months from the date of declaration of his/her result of the Foundation Programme/ Foundation examination;
Contd…2.
-
- have an income (if employed or is having an independent source of income) of not more than 2,40,000 in a year if living on his/her independent income OR if he/she is dependent on his/her parents/guardian/spouse whether partially or wholly, a combined income from all sources of not more than 3,60,000 in a year; and have no other source from which assistance/scholarship is received simultaneously while pursuing the course for company secretaryship.
6.4 Assistance for Professional Programme/Final Course
The candidate should —
- be a bonafide registered student of the Institute;
- have passed all the papers included under both modules/groups of Executive Programme/Intermediate examination in the first attempt, at one sitting, without claiming exemption in any paper, and secured a minimum of 50 per cent marks in the aggregate;
- have an income (if employed or is having an independent source of income) of not more than 2,40,000 in a year if living on his/her independent income OR if he/she is dependent on his/her parents/guardian/spouse whether partially or wholly, a combined income from all sources of not more than 3,60,000 in a year; and
- have no other source from which any assistance/scholarship is received simultaneously while pursuing the course for company secretaryship.
7. REFUND OF REGISTRATION FEE TO INELIGIBLE CANDIDATES
The registration fees will be refunded, after deducting 25 towards administrative charges, if a candidate decides not to pursue the company secretaryship course consequent upon non-grant of financial assistance.
No refund of registration fee shall, however, be made to a registered student who has been found eligible for grant of/granted assistance.
8. NUMBER OF AWARDS OF ASSISTANCE
8.1 For Executive Programme: The number of awards for Executive Programme course shall not exceed 25 in each session or 50 in a year.
8.2 For Professional Programme: The number of awards for Professional Programme course shall not exceed 25 in each session or 50 in a year.
9. VALUE
9.1 The financial assistance per student will be 500 per month for a period of ten months.
9.2 The candidates selected for the award of assistance shall be exempted from payment of Education Fee and Examination Fee during the period of assistance.
Contd…3.
10. DURATION
The financial assistance for period of 10 months shall commence from the month following the month of declaration of result and on registration as a student and last upto and including the month in which the candidate for the first time normally becomes eligible to appear in immediate Executive/Professional Programme examination, as the case may be. However, if a candidate registers himself/herself immediately after declaration of results in the same month itself, he/she shall also be eligible for grant of exemption from payment of Education Fee from that month.
11. CONDITIONS FOR CONTINUANCE OF ASSISTANCE
The benefits accruing from this assistance scheme shall continue for the period specified in para 10 above, subject to the following conditions:
- that the student consciously and diligently pursues the studies and complies with all the requirements and formalities as may be specified by the Institute from time to time.
- that his/her progress in pursuing postal/oral coaching shall be regular and satisfactory and subject to review by the Institute on quarterly basis; and
- that the conduct of the candidate is found satisfactory as provided in Regulation 27 of the ‘Company Secretaries Regulations, 1982’.
12. PROCEDURE
Application for seeking financial assistance shall be made by a candidate in the form appended hereto accompanied by:
- attested copies of certificates, mark-sheets, etc. in support of his/her qualifications; and
- income certificate clearly indicating monthly as well as yearly income of the candidate and/or his/her parents/guardian/spouse in the enclosed form or as specified by the Institute from time to time.
The application complete in all respect should reach the Institute on or before the last date as may be notified in the “Student Company Secretary” and “Foundation Course” E-Bulletins. Incomplete applications or applications received after the last date in the Institute may not be considered.
13. ANNOUNCEMENT INVITING APPLICATIONS
The Institute may publish an announcement in “Student Company Secretary” and “Foundation Course” E-Bulletins at least once in every six months normally in the months of March/April and September/October issues inviting applications for award of assistance for each session.
Contd….4
14. CRITERIA FOR AWARD OF ASSISTANCE
14.1 Selection for award of assistance
The selection for award of assistance will be made purely on merit-cum-means basis subject to following reservations made for Scheduled Castes/Tribes and Physically Handicapped candidates:
14.2 Reservations for Scheduled Castes/Tribes
Two awards per session each for the Executive Programme and Professional Programme examinations are provisionally reserved for candidates belonging to Scheduled Castes/Tribes fulfilling minimum eligibility conditions given in this scheme.
14.3 Reservations for Physically Handicapped persons
Two awards per session each for the Executive Programme and Professional Programme examinations are provisionally reserved for Physically Handicapped candidates fulfilling minimum eligibility conditions given in this scheme.
14.4 Un-utilised reserved awards
If the reserved awards mentioned in preceding paragraphs 14.2 and 14.3 are not availed of by Schedules Caste/Tribe and/or Physically Handicapped candidates then these may be given to other eligible candidates.
14.5 Power to remove difficulties
Notwithstanding the provisions contained elsewhere in this scheme the Examination Committee may relax or waive any requirement(s) for the purpose of grant of financial assistance to Scheduled Castes/Tribes and/or Physically Handicapped candidates out of the reservations made here-in-above.
15. COMMUNICATION
The decision with regard to selection of awardees for the assistance will be published in the “Student Company Secretary” and “Foundation Course” E-Bulletins and also intimated individually to the awardees concerned.
16. PAYMENT OF ASSISTANCE AMOUNT
The assistance amount will normally be paid to each awardee at the beginning of each month for the previous month by way of crossed account payee cheque/demand draft/electronic mode subject to his/her fulfilling the conditions with regard to the award of assistance.
Contd…5.
17. CANCELLATION OF GRANT OF ASSISTANCE
17.1 The assistance provided to a candidate may be recovered, withdrawn or cancelled, at the discretion of the Institute, if subsequently it is found that the candidate :
- has suppressed any material information or has made any wrong statement, and/or has given a false declaration in any respect; or
- the student is not pursuing postal/oral coaching or course of studies to the satisfaction of the Institute or otherwise considered not eligible for continuance of the scholarship; or
- his/her conduct has not been found satisfactory in pursuance of regulation 27 of the ‘Company Secretaries Regulations, 1982’ as in force.
17.2 If the candidate fails in the examination (whether in one or both modules/group(s) of an examination) the assistance shall automatically lapse and will not be resumed under any circumstances.
18. DECISION OF THE EXAMINATION COMMITTEE IS FINAL
18.1 The decision of the Examination Committee shall be final on all matters relating to the scheme including the meaning and interpretation to be given with regard to any provisions contained in this scheme.
18.2 The Examination Committee reserves the right to amend the scheme from time to time or repeal it without any prior notice.
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