Institute of Chartered Accountants of India (ICAI) has recently announced some changes in the course of Corporate Law Paper for the CA final students.
We are presenting the additions and exclusion of the topics in/from the course syllabus of Paper 4: Corporate and Allied Laws in a precise way so that students of CA final year do not get bewildered and go through the course in an orderly way and study all the important chapters and at the same time be assured of not investing time in the topics which are not a part of course material as per the new course.
Here we first go with the exclusions which will become effective in November 2019 examinations.
[I] Exclusion of Topics From The Syllabus w.e.f. November 2019 Examination
| Topic in the Study material | Retained provisions | Excluded provisions of the respective chapters of the Study Material |
| (1) | (2) | (3) |
| Winding Up (Chapter 10) | Sections related to winding up byTribunal (from sections 271-303); and Sections applicable to every mode of winding up (from sections 324-336 and 344-347 and 352-358) | Provisions contained under section 337- 343 and 348 to 351 |
| Producer Companies (Chapter 11) | – | Entire topic |
| Miscellaneous Provisions (Chapter 17) | • Sections 248- 252,394- 395, 406 • Provisions covered under the headings ‘Miscellaneous Provisions’ – 447, 450, & 455 | Section 366 to 378, Section 396 to 404, Section 405, 448, 449, Section 451-454, Section 456-470 |
| Compounding of offences, Adjudication & Special Courts (Chapter 16) | Adjudication and special courts [i.e., Sections 435- 440, 442 – 446A] | Compounding of offences’ covered under section 441 |
| National Company Law Tribunal and Appellate Tribunal (Chapter 15) | Sections 407, 420-434 | Provisions covered under section 408 – 419 |
| Insolvency &Bankruptcy Code, 2016 (Chapter 19) | The Corporate and Insolvency resolution process i.e. upto section 59 | Remaining provisions i.e. from section 60 onwards |
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Section B: Allied Laws (30 Marks)
| SEBI Act, 1992, SEBI (ICDR) Regulations, 2009 (Chapter 20) | SEBI Act, 1992 | SEBI (ICDR) Regulations |
| The ForeignExchange Management Act, 1999 (Chapter 22) | The FEMA, 1999 along with the following Rules/Regulations – • Fem (Permissible Capital Account Transactions) Regulations, 2000 • Fem (Current Account Transactions) Rules, 2000 • FEM (Export of Goods & Services) Regulations, 2015 | • Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000 • Foreign Exchange Management (Acquisition and Transfer of Immovable Property outside India) Regulations, 2015 • Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2000 • Foreign Exchange Management (Possession and retention of foreign currency) Regulations, 2015 |
| The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Chapter 24) | • Relevant definitions covered in the Study Material • management of asset by the bank and the financial institutions [i.e. Sections 1- 19 of the SARFAESI Act] | Section 20 and onwards |
Now we are presenting the addition/inclusions in the course which will become effective from May, 2020 Examination
[II] Inclusion of Topics in The Syllabus w.e.f. From May 2020 Examination
| Paper | Inclusion | |
| Paper 4: Corporate and Allied Laws | Legislation | Topics added |
| The Foreign Exchange Management Act, 1999 | • Overseas Direct Investment • Import of Goods and Services • External Commercial Borrowing Policy |
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