Quality Review Board

The Institute of Cost Accountants of India

                      (Statutory Body under an Act of Parliament)

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THE COST AND WORKS ACCOUNTANTS PROCEDURE OF MEETING OF QUALITY REVIEW BOARD AND TERMS AND CONDITIONS OF SERVICES AND ALLOWANCES OF THE CHAIRPERSON AND MEMBERS OF THE BOARD RULES, 2006

(as amended in 2012)

The Cost and Works Accountants Procedure of Meeting of Quality Review Board and terms and conditions of services and allowances of the Chairperson and Members of the Board Rules, 2006

Rules

 

Page No.

1.

Short title and commencement

153

2.

Definitions

153

3.

Procedure for Meeting of the Board

154

4.

Transaction of Business

154

5.

Agenda for Board Meeting

154

6.

Procedures to be followed by the Board

155

7.

Assistance to the Board

156

8.

Terms and conditions of service of the Chairperson and Members of the Board

156

9.

Allowances

156

10.

Resignation, Removal and filling up of casual vacancy

158

11.

Residuary provision

158

THE GAZETTE OF INDIA
EXTRAORDINARY
PART II - SECTION 3, SUB-SECTION (i)
Published byAuthority
No.577 NEW DELHI TUESDAY NOVEMBER 5,2006/
AGRAHAYANA14,1928
MINISTRY OF COMPANYAFFAIRS
NOTIFICATION

New Delhi, the 27th November 2006

G.S.R. 734(E).-In exercise of the powers conferred by clauses (e) and (f) of Sub-section (2) of Section 38A of, read with Section 29C and Sub-section (1) of Section 29D of, the Cost and Works AccountantsAct, 1959 (23 of 1959), the Central Government hereby makes the following rules namely:

l.Short title and commencement. -

(1)These Rules may be called the Cost and Works Accountants Procedure of Meeting of Quality Review Board and Terms and Conditions of Services and Allowances of the Chairperson and members of the Board Rules, 2006.

(2)They shall come into force on the date of their publication in the Official Gazette.

2.Definitions. -

(l)In these Rules; unless the context otherwise requires,

(a)Act : means the Cost and WorksAccountantsAct, 19591;

(b)Board means the Quality Review Board formed under sub-section (1) of Section 29A of the Act;

(c)Council : means the Council constituted under Section 9 of the Act;

(d)2Institute : mean the Institute of Cost Accountants of India set up under the Act.

(2)Words and expressions used but not defined in these Rules and

1.G.S.R. 224[E] dated 22-03-2007 2.Amended vide Notification No. G.S.R.712(E) dated 24th September, 2012.

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The Cost and Works Accountants Procedure of Meeting of Quality Review Board and terms and conditions of
services and allowances of the Chairperson and Members of the Board Rules, 2006
defined in the Act shall have the same meaning as assigned to them in the Act.

3.Procedure for Meetings of the Board.-

(1)All meetings of the Board shall, ordinarily, be held at the headquarters of the Institute.

(2)The date and time of any meeting shall be fixed by the Chairperson;

Provided that a notice of not less than 15 days before the scheduled date of every such meeting shall be given by the Chairperson or any person so authorised by him to the other members of the Board :

Provided further that.the Chairperson, for reasons to be recorded in writing, may call for a meeting at a shorter notice :

Provided also that not more than six months shall elapse between any two meetings.

(3)The quorum for transaction of any business at a meeting of the Board shall be of three members, of which at least one must be nominated by the Central Government under Sub-section (3) of Section 29A of the Act.

(4)The Chairperson shall chair all the meetings of the Board :

Provided that in the absence of Chairperson, the members shall elect any of the members present on the day of the meeting to chair the meeting.

(5)All questions which come up before any meeting of the Board shall be decided by a majority of the member present and voting, and in the event of an equality of votes, the Chairperson or in his absence, the member presiding, shall have a sccond or casting vote.

4.Transaction of Business. -The business of the Board shall ordinarily be transacted at a meeting of the Board.

5.Agenda for the Board meeting. -

(1)The agenda for a meeting of the Board shall be decided by the Chairperson,

(2)Any matter referred to it by the Central Government or the

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The Cost and Works Accountants
Procedure of Meeting of Quality Review Board and terms and conditions of
services and allowances of the Chairperson and Members of the Board Rules, 2006

Council shall be included in the agenda for the meeting of the Board within time limits specified; if any, in such a reference.

(3)The Chairperson may, in appropriate cases, circulate the agenda note and related papers on any issue among members of the Board for resolution by circulation.

Provided that if three members of the Board require that any question be decided at a meeting, the Chairperson shall withdraw the papers from circulation and have the question determined at a meeting of the Board.

(4)A decision taken by the circulation of the papers shall be communicated to all the members and shall be noted at the next meeting of the Board.

6.Procedures to be followed by the Board.- In the discharge of its functions, the Board may :

(a)on its own or through any specialized arrangement set up under the Institute, evaluate and review the quality of work and services provided by the members of the Institute in such manner as it may decide;

(2)lay down the procedure of evaluation criteria to evaluate various services being provided by the members of the Institute and to select, in such manner and form as it may decide, the individuals and firms rendering such services for review;

(c)call for information from the Institute, the Council or its Committees, members, clients of members or other persons or organisations in such form and manner as it may decide, and may also give a hearing to them;

1[Provided that where the Board does not receive the information called for by it from any Member of the Institute, the Board may request the Institute to obtain the information from such Member and furnish the same to the Board :

Provided further that where the Board does not receive the information called for by it from any company registered under the Companies
1 Proviso inserted by The Cost andWorksAccountants Procedure of Meeting of Quality Review Board and terms and conditions of services and allowances of the Chairperson and Members of the Board (Amendment) Rules, 2011 vide notification G.S.R. 211(E) dated 14th March, 2011

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The Cost and Works Accountants
Procedure of Meeting of Quality Review Board and terms and conditions of
services and allowances of the Chairperson and Members of the Board Rules, 2006

Act, 1956 (1 of 1956), the Board may request the Central Government, the Ministry of Corporate Affairs for assistance in obtaining the Information.]

(d)invite experts to provide expert/technical advice or opinion or analysis or any matter or issue which the Board may feel relevant for the purpose of assessing the quality of work and services offered by the members of the Institute;

(e)make recommendations to the Council to guide the members of the Institute to improve their professional competence and qualifications, quality of work and services offered and adherence to various statutory and other regulatory requirements and other matters related thereto.

7.Assistance to the Board. - The Institute shall set up a specialised technical unit to -

(a)provide secretarial assistance, as required, to the Board in the discharge of its functions;

(b)to assist the Board in carrying out review of quality of services provided by the Members.

8.Terms and conditions of service of the Chairperson and Members of the Board.-

1(1) The tenure of the Chairperson and Members of the Board other then the Members nominated by the Central Government shall be four years.

(2)The Chairperson and other members of the Board shall be part time members.

(3)No Chairperson or member of the Board shall be removed or withdrawn except as provided under Rule 10.

29. Travelling and other allowances.-(1) The Chairperson and other Members of the Board, while on tour, shall be entitled to travel as per the following category, namely :

1Amended by the Cost and WorksAccountants Procedure of Meeting of Quality Review Board and terms and conditions of services and allowances of the Chairperson and Members of the Board (Amendment) Rules, 2011 vide notification G.S.R. 211(E) dated 14th March, 2011
2Amended by the Cost and WorksAccountants Procedure of Meeting of Quality Review Board and terms and conditions of services and allowances of the Chairperson and Members of the Board (Amendment) Rules, 2011 vide notification G.S.R. 211(E) dated 14 th March, 2011

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The Cost and Works Accountants
Procedure of Meeting of Quality Review Board and terms and conditions of
services and allowances of the Chairperson and Members of the Board Rules, 2006

(A) By Air

 

 

(i) Chairperson

-

By Business Class

(ii) Members

-

By Economy Class

(B)The Train AC First Class

(C)The Chairperson and other Members of the Board who are Government servants shall be entitled to travel by the class as admissible to them in their official capacity as per Central Civil Services (Revised Pay), Rules, 2008

(2) Allowance.-(i)The Chairperson and other Members of the Board who are not Government servants and whose place of residence is the same as the venue of the meeting, for local travels undertaken in connection with the Board functions, shall be provided local conveyance or shall be reimbursed the actual conveyance expenses incurred for travel by taxi including air-conditioned cab and in case they use their car, ten rupees per kilometer.

(ii)The Chairperson and other Member of the Board shall be entitled for daily allowances at the following rate, namely :

A Class Cities

Others Cities

 

 

Rupees one thousand per day

Rupees eight hundred per day

(iii)The Chairperson and other Members of the Board who are Government servants whose place of residence is the same as the venue of the meeting, for local travels undertaken in connection with the Board functions, shall be provided local conveyance or shall be reimbursed the actual conveyance expenses incurred for travel by taxi including air-conditioned cab and in case they use their own car, rupees ten per kilometer.

(iv)The Chairperson and other Members of the Board who are Government servants shall be entitled to daily allowances as admissible to them in their official capacity as per Central Civil Services (Revised Pay), Rules, 2008.

(v)The experts invited by the Board under rule 6, shall be entitled to travel by economy class if travelling by air and by AC first class if travelling by train and shall be entitled to allowances as

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The Cost and Works Accountants
Procedure of Meeting of Quality Review Board and terms and conditions of
services and allowances of the Chairperson and Members of the Board Rules, 2006

specified under item (ii) of sub-rule (2) and they may also be paid fees as may be determined by the Chairperson which shall not exceed five thousand rupees, for advice on each matter referred to them.

10.Resignation, Removal and filling up of casual vacancy.-

(l)The Chairperson and each Member of the Board shall cease to remain the Chairperson or Member, as the case may be, in case of his resignation or removal.

(2)The Chairperson or a Member of the Board may resign his office by a notice in writing under his hand addressed to the Central Government which shall he effective from the date of resignation.

(3)The Central Government may remove a person from the post of Chairperson or Member, if

(a)he has become physically or mentally incapable of acting as the Chairperson or a Member, as the case may be;

(b)he has not attended three consecutive meetings of the Board, without leave of absence;

(c)he, being the Chairperson, has not called a meeting of the Board for more than six months;

(d)he, in the opinion of the Central Government, is unable to discharge his function or perform his duties; or

(e)he has been held guilty by any civil or criminal court for an offence which is punishable with imprisonment for a term exceeding six months.

(4)A casual vacancy in the Board shall be filled by the Central Government, from out of the category in which such vacancy occurs.

11.Residuary provision. - Matters relating to the terms and conditions of services and allowances of the Chairperson and other members of the Board, the place of meetings and the procedure to be adopted in meetings of the Board; with respect to which no express provisions has been made in these rules shall be referred in each case to the Central Government for its decision and the decision of the Central Government thereon shall be binding on the Board, the Chairperson and other members.

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The Institute of Cost Accountants of India