RESTORATION OF MEMBERSHIP AND CERTIFICATE OF PRACTICE

Attention of members is drawn to Regulation 6 of the Chartered Accountants Regulations, 1988, which provides, interalia, for payment of annual membership fee and certifi cate of practice fee on 1st April each year. Individual notices to members requesting them to pay their annual membership and certifi cate of practice for the year 2008-2009 were also sent. Announcement drawing attention of members to the requirement of payment of said annual fees for the current year were also published in the past issues of our Journal and SIRC Newsletter.

The names of members who have not paid their fees within the stipulated period are in the process of being removed or their certifi cate of practice are under cancellation. The removal notifi cation and cancellation of certifi cate of practice notifi cation w.e.f. 01.10.2008 are under issue.

In the event of members’ name is removed or his certifi cate of practice is cancelled on account of non-payment of fees, the member concerned ceases to be a Member of the Institute and in respect of members holding Certifi cate of Practice, ceases to have the right to practice the profession of Chartered Accountancy and also the right to train articled assistants under them.

Regulation 19 and Regulation 11 of the Chartered Accountants Regulations, 1988, provide for restoration of membership and restoration of certifi cate of practice, respectively with retrospective effect, provided the application complete in all respects, together with the necessary fees is received from the member concerned by the Secretary of the Institute before the expiry of the relevant fi nancial year. Members may note that Restoration Fee of Rs.1000/- is a part of the fees payable by the members before the expiry of the relevant fi nancial year, as prescribed in Regulation 19. Members whose names are removed or certifi cate of practice are cancelled may, if they so desire, apply in the appropriate form (Form No.9/101)* along with necessary fees in accordance with these Regulations.

Such Members are requested to comply with the requirement immediately.

The application in the prescribed form should be sent to The Institute of Chartered Accountants of India, ICAI Bhawan, No.122, Mahatma Gandhi Road, Nungambakkam, Chennai – 600034 along with the prescribed fees.

*Form 9/101 are available on the website of the Institute at www.icai.org

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