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Payment of Fee by Members

The document outlines new requirements for members of the Institute to pay annual membership fees. It states that all members must pay their fees by August 31 each year, or their names will be removed from the register of members as of September 1, and they will no longer be allowed to practice or use the designation of "Chartered Accountant." Before removal, the registration numbers of unpaid members will be published in the Institute's newsletter and on its website. The Council has advised the Secretariat to develop an effective follow-up process to help members pay their dues on time.

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Faheem Shaukat
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47 views1 page

Payment of Fee by Members

The document outlines new requirements for members of the Institute to pay annual membership fees. It states that all members must pay their fees by August 31 each year, or their names will be removed from the register of members as of September 1, and they will no longer be allowed to practice or use the designation of "Chartered Accountant." Before removal, the registration numbers of unpaid members will be published in the Institute's newsletter and on its website. The Council has advised the Secretariat to develop an effective follow-up process to help members pay their dues on time.

Uploaded by

Faheem Shaukat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Directive 3.

03
Payment of Fee by Members
In pursuant to Section 6(2) and 15(2)(g) of the Chartered Accountants Ordinance,
1961 read with Bye-Law 10 of the Chartered Accountants Bye-Laws, 1983, the
Council of the Institute decided to issue this Directive for compliance by the
members.
It is observed that every year in June, the Institute start s approaching its members
for payment of fee for the upcoming financial year. Majority of members respond to
our call and pay their outstanding dues, however some members (including
practicing members) every year pay their fee after a lapse of considerable period of
time despite repeated reminders and follow up by the Institute.
The Council of the Institute has considered the matter and decided to prescribe the
following requirement for payment of fee:
1. All members are required to pay their annual membership fee by the last day of
August every year. Non-payment of membership fee by members will result in
removal of their names under section 19(1)(c) of the Chartered Accountants
Ordinance, 1961 from the register of members with effect from the first day of
September and accordingly they will not be entitled to practice as or to use the
designation of Chartered Accountant with their names.
Before removal of names as above, the registration numbers of all such members
who have not paid their annual membership fee will be published in the ICAP
Newsletter and placed on its website.
The Council has advised the Secretariat to devise effective and efficient follow up
mechanism in order to facilitate members in payment of their dues.
(Approved by the Council in its 264 th meeting held on May 8-9, 2015)

FEROZ RIZVI
Secretary/COO

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