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MCA updates - Feb 2016



1. (a)Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and Members of the Board (Amendment) Rules, 2016

 

 

MCA Notification – February 8, 2016

 

Amendment to the existing ‘Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and Members of the Board Rules, 2006’

 

Applicability:

Quality review board constituted by the Central Government pursuant to subsection 1 of section 28 A of the Chartered Accountants Act 1949

Crux of the Notification:

 

The following rule shall be inserted after Rule 9, in sub-rule (2), after clause (i) (ia),which speaks about Allowances, in the Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and Members of the Board Rules, 2006:

"(ib) The Chairperson and Members nominated by the Central Government to the Board, shall not undertake any foreign tour without the prior approval of the Central Government. Whenever such a tour is proposed, the proposal should give full justification for the tour, including its purpose, necessity and the expected outcome of the tour for the consideration of the Central Government.

 



(2.) Others MCA information:

The MCA has given notice inviting comments on the following draft Rules:

-       Companies (Indian Accounting Standards) Amendment Rules 2016 - Dated February 16, 2016

-       Companies (Accounting Standards) Amendment Rules 2016 – Dated February 16, 2016

-       Companies (Authorised to Registered) Amendment Rules 20162016 – Dated February 17, 2016

-       Companies (Incorporation) Second  Amendment Rules 2016– Dated February 17, 2016

-       Companies (Cost Records and Audit) Amendment Rules, 2016 - Dated February 23, 2016

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