The Institute of Company Secretaries of India (ICSI) recently notified the revised rates of fee payable by its members.
The Notification released on May 11 doubles the annual membership fee and Certificate of Practice Fee of both Associate members and Fellow Members. There is also a hike in all other fees payable to the Institute. The new rates are applicable w.e.f 1st April 2017.
The Notification prescribes different rates of fee for Associate and Fellow members and for newly admitted Associate members.
A person who has passed the Intermediate Examination/ Executive Programme examination and Final Examination / Professional Programme examination of the Institute and has undergone prescribed training or exempted therefrom on the basis of experience is eligible to apply for Associate membership of the Institute provided he has attained the age of 21 years on the date of application as per the Matriculation / school leaving certificate. An application for Associate membership of the Institute is to be made in the approved Form-A (available on the web-site of the Institute).
As per the Notification, annual membership fee for Associate and Fellow members increases to 2500 and 3000 from the current rate of Rs. 1125 and Rs. 1,500. Certificate of Practice Fee for members of both categories
An Associate member holding membership of the Institute for a continuous period of five years is eligible for admission as a Fellow member on his fulfilling the requirements of Regulation 4 (2).
The Council further notifies the concessional rates of fees payable by the newly admitted Associate members of the ICSI having 0-2 years of membership (i.e. members admitted w. e. f. 1st April, 2015 and thereafter), w. e. f. 1st April, 2017.
It is stated that “the concessional fee structure shall be applicable to the members having membership of 0-2 years (admitted on any date, on or after 1st April, 2015 to 31st March, 2017) for two financial years only, i.e. for FY 2017-18 and 2018-19. The concessional fee rates will also be applicable to the members admitted on any date, on or after 1st April, 2017 for two financial years (i. e. the year of admission and the following year) till further determination of fee, if any, by the Council.”
Read the full text of the Notification below.
