[1]ICSI has issued New Guidelines for Yearly Credit Hours for Financial year w.e.f. 01st April 2020. These guidelines came into effect from 01st April 2020.
New Credit Hour Requirements:
It is mandatory for all members of the Institute, except those specified in para 5.1 of guidelines (also mentioned below) to secure 20 CPE Credits in a year through a structured and unstructured learning program.
However, no carry forward for excess Program Credit Hours from one year to another year will be allowed.
Applicability of Guidelines
These guidelines shall be mandatory for all the members irrespective of whether they are in practice or otherwise.
These guidelines shall not applicable to the following members:
Exemption 1:
The requirements of CPE Credit shall not apply to:
- A member who attains the age of 60 years during a particular calendar year and who is neither in any gainful employment nor in practice.
- A member, for the year during which he attains membership of the Institute.
- Member of Parliament;
- Member of the legislative assembly or legislative council;
- Member of Judiciary;
- Members of any of the Central Civil Services;
- Members of any of the State Civil Services;
- Employees of regulatory bodies, government organizations (not being corporate entities), and statutory bodies;
- Members of Armed Forces and Paramilitary forces;
- A member or class of members to whom the Professional Development Committee of the Council grant full/partial exemption, on case to case basis, either by granting specific /general exemption, on account of facts and circumstances in the following situations:
- Maternity / Paternity Leave;
- Accident / Medical Emergencies;
- Partial / Total Disablement;
- Absence from the country;
- Such other case(s), as may be deemed appropriate by the Professional Development Committee of the Council.
Provided that the member falling in any of the above-exempted categories shall submit a declaration along with documentary evidence at the time of renewal of membership on annual basis or anytime at the time of claiming exemptions.
Exemption 2:
Members holding Multiple Qualification (Like CA/CWA):-
A member holding membership of more than one sister professional institution, wherein he/she is also required to meet CPE Credit requirements in order to continue the membership, such member shall be granted equal number of CPE Credits as are applicable to such learning activities undertaken under the banner of the other professional body(ies).
INSOLVENCY PROFESSIONAL: In case of members who are registered as Insolvency Professionals or Registered Valuers with the ICSI-Insolvency Professionals Agency and the ICSI-Registered Valuers Organisation as the case may be, the respective bodies may consider granting CPE Credits to the members for attendance at learning programmes on the topics prescribed by the Insolvency and Bankruptcy Board of India (IBBI). And the same may be in part fulfillment of the requirement of obtaining CPE requirements prescribed by the IBBI
Un-Structured Activities:
The members shall be granted CPE Credit under these Guidelines for undertaking any of the following unstructured learning activities subject to a maximum of Twelve CPE Credits in each year:
|
S No. |
Learning Activity | CPE
Credits per activity |
Maximum CPE in a year |
| 1 | Web based learning includinge- learning, webinar, subject to ,declaration of CPE Hours by the ICSI | 2 | 8 |
| 2 | Viewing video recording of the learning programmes organized by the Institute subject to submission of self declaration by the member | 2 | 2 |
| 3 | Publication of article in a UGC approved journal other than the Chartered Secretary Journal. | 4 | 8 |
| 4 | Publication of book(s). | 8 | 8 |
| 5 | Revision of Published Book | 6 | 6 |
| 6 | Acting as Guide / Supervisor for a M.Phil. / LL.M. / Ph.D. student registered with a UGC approved University | 4 | 4 |
| 7 | Submitting suggestions on Questionnaires / Consultative Papers / Exposure Draft, etc. sought
by the Institute. |
2 | 4 |
| 8 | Reviewing of Articles / Guideline Answers / Study Material and other
publications of the Institute |
2 | 4 |
| 9 | Publication of Research findings / Studies on the areas relevant to Corporate Sector, Capital Markets and Professional interest in a UGC – Consortium for Academic Research and Ethics (CARE) approved journal. | 4 | 4 |
| 10 | Publication of articles of professional interest in national dailies registered with the Registrar of Newspapers for India | 2 | 4 |
| 11 | Acting as visiting faculty or guest faculty at the various Universities / Management Institutions/ | 2 | 4 |
| S. No. | FAQ’s |
| 1. | Is there any consequences if CS Member fails to comply with such guidelines? |
| A member who fails to obtain the mandatory CPE Credits during the stipulated period may be liable to disciplinary action for non-compliance under the provisions of the Company Secretaries Act, 1980, Company Secretaries Regulations, 1982 and the Code of Conduct | |
| 2. | These guidelines shall be applicable from which financial year? |
| These Guidelines shall come into force, w.e.f 1ST APRIL, 2020. ICSI Members except the mentioned in above exception list required to comply these guidelines for f.y. 2020-21. | |
| 3. | How many credit hour required during one financial year? |
| It is mandatory for all members of the Institute, to secure 20 CPE Credits in a year through structured and unstructured learning program. | |
| 4. | How Many Maximum credit hour through unstructured learning program a member? |
| A Member can have Credit hour through unstructured learning program, maximum of 12 (Twelve ) CPE Credits in each financial year. | |
| 5. | Any credit hour shall be granted if article published in Chartered Secretary? |
| A member whose article is published in the “Chartered Secretary” will be entitled to 4 CPE Credits | |
| 6. | Credit Hour in case of joint authorship of an Article. |
| In respect of joint authorship of the article, the two credit hours be awarded to each MEMBER WHO has authored the article. However, the joint authorship should be limited to two authors only | |
| 7. | Credit hour for faculties |
| Members acting as Faculties in any of the program organised by the Institute, he shall be entitled to minimum 2 and maximum 4 CPE hours for any session of not less than 30 minutes on such sessions |
Notes:
- No CPE Credits will be awarded for any learning program whose duration is less than 1 hour.
- For Members who’s professional address is beyond 100 km from the nearest Regional Council/Chapter(s)/Study Circle(s) and attend a program at any Program Learning Centre, they shall be awarded double the CPE Credits for which the concerned Program is entitled.
- Members above the age of 60 years shall be required to obtain 50% of the PCH required to be obtained by the members, if he is in the gainful employment or holding the certificate of practice.
(Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at [email protected]) Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Though utmost efforts has made to provide authentic information, it is suggested that to have better understanding kindly cross-check the relevant sections, rules under the Companies Act, 2013. The observations of the author are personal view and the authors do not take responsibility of the same and this cannot be quoted before any authority without the written