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MOU with ICAI & ICWAI

20th October 2000
ICSI (The Institute of Company Secretaries of India)
(hereinafter referred to as “ICSI”), a professional body constituted under the Company Secretaries Act, 1980 (56 of 1980) for the regulation and development of the profession of Company Secretaries and having its headquarters at “ICSI House”, 22, Institutional Area, Lodi Road, New Delhi. 
ICAI(The Institute of Chartered Accountants of India) 
(hereinafter referred to as “ICAI”), a professional body constituted under the Chartered Accountants Act, 1949 (38 of 1949) for the regulation of the profession of Chartered Accountants and having its headquarters at 3, Indraprastha Estate, New Delhi 
And 
ICWAI(The Institute of Cost and Works Accountants of India) 
(hereinafter referred to as “ICWAI”), a professional body constituted under the Cost and Works Accountants Act, 1959 (23 of 1959) for the regulation of the profession of Cost and Works Accountants and having its headquarters at 12, Sudder Street, Calcutta 
Whereas the three Institutes who are the signatories to this document have arrived at the ideation that it is expedient to establish synergistic relationship amongst themselves with a view to further strengthen their collective competencies,
And Whereas the three Institutes further considered that the establishment of such a synergistic relationship would promote the image of the three respective professions,
And Whereas such promotion of their professional images would help to continuously develop and disseminate the best practices towards better governance for meeting business as well as societal needs and expectations.
Now therefore the three Institutes, working through the ICSI-ICAI-ICWAI Coordination Committee, unanimously agree as follows: 
Article 1
Professional Development And Continuing Education
  1. Partnership among the Practising Members of the three Institutes
    The three Institutes agree to foster partnership amongst their practising members and for the purpose, make requisite provisions in their respective Acts and Regulations.
  2. Joint Programmes
    The three Institutes agree to organise jointly professional development programmes for their members in areas of common interest.
  3. Compulsory Attendance of Continuing Education Programmes
    In the matter of compulsory attendance of Continuing Education Programmes, the three Institutes agree to give credit to their members in terms of credit hours earned through attendance of professional development programmes organised by the Institutes.
Article 2
Sharing Of Resources And Infrastructure
  1. Facilities
    For optimum utilisation of infrastructure and facilities and academic expertise available with the respective Institutes at various locations, the three Institutes agree to share the same on mutually agreed terms.
  2. Educational Channel
    The three Institutes agree to share the programmes on the Educational TV Channels based on mutually agreed terms.
  3. Libraries
    The members and students of each Institute will be allowed to visit, use and consult the libraries of other Institutes.
  4. Website 
    The three Institutes agree to allow access/linkage to the websites of the other Institutes from their own website.
  5. Common approach on administrative matters
    The three Institutes agree to adopt a common approach in all matters relating to governmental authorities at Union, State or Local levels
  6. The three Institutes also agree to pursue a common approach while dealing with postal/media or other authorities on common issues to disseminate knowledge in a fast and cost-effective manner.
Article 3
Academic Networking And Coordination
  1. Exemption
    The three Institutes agree to take steps for entering into an agreement for grant of reciprocal exemption for common papers.
  2. Hindi
    The three Institutes agree to take unified steps in respect of introduction of Hindi in their respective courses.
  3. The three Institutes agree to evolve suitable strategy to leverage information technology and the laws relating thereto.
Article 4
Sharing Of Knowledge And Information
  1. The three Institutes agree to share the developments in the areas of common interest at the International level including interaction with UN and other Regional/International/Multinational bodies and Institutions.
  2. The three Institutes agree to follow a proactive approach in the areas of common interest while interacting with professional Institutes of foreign origin.
  3. The three Institutes agree to share the data and knowledge in trade in services and other emerging areas of relevance.
  4. The three Institutes agree to maintain commonality in their respective Acts and Regulations subject however to some variations as may be required by the Charter.
Article 5
Coordination Committee
  1. The existing Coordination Committee of three Institutes agrees to be entrusted with the task of achieving the objectives and implementation of this agreement. The Committee agrees to meet at least once in three months to monitor and for furthering the implementation of this agreement.
Article 6
Harmonisation
  1. The three Institutes agree to foster further cordial relationships amongst themselves on a continuing basis.
  2. The three Institutes agree to hold, as far as possible, one meeting of the members of the Central Councils of the three Institutes, in a year, for strengthening the relationship and for considering common issues including those covered by this agreement and for formulating common minimum action programme and for its effective review and its effective implementation.
  3. The three Institutes agree to take necessary steps for getting this MOU ratified by their respective Councils.
In witness whereof the parties hereto have set their respective hands and seals to this document on the aforementioned date. 
For the Institute of Chartered Accountants of India For the Institute of Cost & Works Accountants of India For the Institute of Company Secretaries of India
President President President
Secretary Secretary Secretary
Witness
Joint Secretary to the Government of India, 
Department of Company Affairs, New Delhi 

Signed in the august presence of 

Hon’ble Shri Arun Jaitley 
Union Minister of State for Law, Justice and Company Affairs,  Government of India, New Delhi

And

Dr. P. L. Sanjeev Reddy, IAS
Secretary to the Government of India, 
Department of Company Affairs, New Delhi