In exercising its power under Section 15 of CS Act 1980, the Council of the Institute has approved the following eligibility criteria for registration of CS firms
& LLPs for imparting training to CS Students w.e.f 01.06.2017
1. Existing practice of registration of students with the individual PCS as per his/ her eligibility would continue irrespective of whether he/ she is operating as proprietor or partner of a firm or LLP.
2. In view of the above, CS firm and CS LLP will not be separately recognized by the Institute for imparting training
(long term training as well as 15 days specialized training) to CS students.
3. General LLP and CS Non attestation LLP would be allowed to take trainees in their name after fulfilling the following criteria;
”Such LLP should have not less than half of its partners who are the members of ICSI and should have either net worth or capital contribution or turnover of not less than Rs. 50 lakh in the last completed financial year”.
4. It is clarified that LLPs which are already registered with the Institute as on 21.03.2017 will be allowed to continue to train the existing registered students. For fresh registration of students for training such LLPs have to comply with the above criterion.
5. The total number of trainees at any time under one LLP shall not exceed 20.
6. The said guidelines would be applicable with effect from 1st June, 2017
Training/01/2017 Secretary, ICSI