(a) the number of Government representatives on the Council of Institute of Chartered Accountants of India and their duties:
(b) whether some members of the Council have criticised the Government policy about SEBI by issuing press statements;
(c) if so, the details thereof; and
(d) the action taken by the Government in this regard?
MINISTER OF LAW, JUSTICE & COMPANY AFFAIRS AND SHIPPING (SHRI ARUN JAITLEY)
(a) : In terms of section 9(2)(b) of the Chartered Accountants Act, 1949, the Central Government can nominate upto six persons to the Council of the Institute of Chartered Accountants of India (ICAI). The Government have nominated suitable persons for all these six slots.
The duties of the Council of the ICAI are to manage the affairs of the Institute and to discharge the functions assigned to it under the Chartered Accountants Act, 1949 and the Regulations framed thereunder.
(b) : ICAI has stated that none of the Council members of the Institute have made any criticism or adverse comments on the functioning of SEBI by issuing press statements.
The ICAI has, however, stated that the Institute has made a few observations and suggestions relating to the Report of the Dhanuka Committee on Review of Securities Laws, which were reported in sections of the press.
(c) & (d) : Do not arise.