The Council in its 283rd meeting considered the difficulties being faced by the members in service while complying with the requirements for admission as fellow member in terms of Regulation 5 (3) and decided that the Members who are not in practice be admitted to Fellow Membership provided the member has been an Associate Member for a continuous period of five years and submits a self-declaration to the effect that he has been in Government service or is ordinarily holding or has held for a continuous period of not less than five years any one or more posts carrying duties relating to accounts, cost accounts, audit, finance, taxation, company law, administration and / or secretarial work in:-
- an educational institution approved by the Council: or
- a private or government, industrial, commercial or trading undertaking having a minimum paid-up capital of Rs. 25 lakhs or a minimum turnover of Rs. 50 lakhs or a minimum paid-up capital of Rs. 10 lakhs and a minimum turnover of Rs. 30 lakhs or a minimum total assets of Rs. 50 lakhs.
- Employed under a statutory authority; or
- Employed under a local authority having within its jurisdiction a population of not less than 5 lakhs during each of the five years of his service.
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