ICAI Annouced Inclusion/ Exclusion of topics from Corporate and Economic Laws (New Course)
Detailed announcement chapter wise as to Inclusion/ Exclusion of topics from the scope of syllabus of Paper 4: Corporate and Economic Laws (New Course) [In continuation to earlier announcement dated 24/6/19]
[I] Exclusion of topics from the scope of 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 |
| Part I : Corporate Laws: Section A: Company Law | ||
| Winding Up (Chapter 7) | Sections related to winding up by Tribunal (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 8) | – | Entire topic |
| Miscellaneous Provisions (Chapter 10) | 1). Sections 248- 252, 394- 395, 406
2). Provisions covered under the headings “Miscellaneous Provisions” – 447, 450, & 455 |
Sections 366 to 378, 396 to 404, 405, 448, 449, 451-454, 456-470 |
| Compounding of offences, Adjudication & Special Courts (Chapter 11) | Adjudication and special courts i.e., Section 435- 440, 442 – 446A | Compounding of offences’ covered under section 441 |
| National Company Law Tribunal and Appellate Tribunal (Chapter 12) | Sections 407, 420- 434 | Provisions covered under section 408 – 419. |
| Section B: Securities Laws | ||
| SEBI Act, 1992, SEBI (ICDR) Regulations, 2009 & SEBI (LODR)Regulations, 2015 (Chapter 2) | SEBI Act, 1992 & SEBI (LODR)Regulations, 2015 | SEBI (ICDR) Regulations |
| Part II : Economic Laws | ||
| The Foreign Exchange Management Act, 1999 (Chapter 1) | The FEMA, 1999 along with the following Rules/Regulations – 1). Fem (Permissible Capital Account Transactions) Regulations, 2000
2). Fem (Current Account Transactions) Rules, 2000 3). FEM (Export of Goods & Services) Regulations, 2015 |
1). Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000
2). Foreign Exchange Management (Acquisition and Transfer of Immovable Property outside India) Regulations, 2015 3). Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2000 4). 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 2) | 1). Relevant definitions covered in the Study Material
2). management of asset by the bank and the financial institutions |
Section 20 and onwards of this chapter |
| Insolvency & Bankruptcy Code, 2016 (Chapter 6) | The Corporate and Insolvency resolution process i.e. upto section 59 | Remaining provisions i.e. from section 60 onwards |
[II] Inclusion of topics within the scope of syllabus effective from May, 2020 Examination onwards
| Paper | Inclusion | |
| Legislation | Topics added | |
| Paper 4: Corporate and Economic Laws | The Foreign Exchange Management Act, 1999 | 1). Overseas Direct Investment
2). Import of Goods and Services 3). External Commercial Borrowing Policy |
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