Extension of the validity of exemption granted in a paper(s) (on the basis of securing aminimum of 60 per cent marks) by one more examination in respect of students who optedto switch over to the Intermediate (Integrated Professional Competence) Course, under theDirect Entry Scheme before 30th September 2012.

Pursuant to Notification dated 1st August 2012, notifying the amendment to Regulation28D(2) of the CA Regulations 1988, wherein direct admission to Intermediate (IPC) course hadbeen allowed in respect of such candidates (a) who have passed graduation or post graduation or(b) Intermediate level of the Institute of Company Secretaries of India and Institute of CostAccountants of India, without passing the Common Proficiency Test, subject to complying withcertain conditions.

Further, in terms of the transition provisions, approved by the Council at its 317th meetingheld in August 2012, candidates who have already joined the CA course after passing CPT havealso been permitted to switch over to Intermediate (IPC) course, under the Direct Entry Scheme,subject to compliance of the required conditions for conversion.

The eligibility requirements for appearing in the Intermediate (IPC) Examination forsuch candidates who switch over from Professional Competence Course (PCC) or IntegratedProfessional Competence Course (IPCC) to Intermediate (IPC) course, under the Direct EntryScheme inter-alia included completion of 9 months of articleship training (including completionof 8 months of study course).

The Council, at its 317th meeting held in August 2012 decided to relax the eligibilityrequirements for admission to the Intermediate (IPC) Examination to be held in May 2013 to theextent of completion of 7 months of practical training and study course, as one time dispensation,for those candidates who switch over to Intermediate (IPC) course on or before 30th September2012.

Thus, the eligibility for first appearance for the students who switch over to Intermediate(IPC) course on or before 30th September 2012, was May 2013, since the requirement of the prescribed period of articled training and study course could not be complied with for appearingin November 2012 examination.

In the process, such students who got converted to Intermediate (IPC) course under theDirect Entry Scheme, were not eligible to appear in Integrated Professional CompetenceExamination (IPCE) held in November 2012 and had to skip the said exam and it is possible thatsome of such students who had secured exemption in a paper (s) by virtue of having secured aminimum of 60% marks, missed out one chance of availing of the exemption, granted to them.

The Council, after deliberations and taking into consideration all relevant facts and witha view to remove undue hardship to students, resolved as under:

In respect of students registered under the Professional Competence Course(PCC)/Integrated Professional Competence Course (IPCC) who, pursuant to issuance ofNotification No.1-CA(7)/145/2012 dated 1st August, 2012, being eligible for direct admission to the Chartered Accountancy Course, switched over to the Intermediate (IPC) Course by 30thSeptember, 2012 and could not appear in IPCE in November 2012 on account of such switchingover, the PCE/IPCE held in November, 2012 shall not be reckoned for determining the“immediately next three following examinations” for the purpose of extending the benefit ofexemption obtained in one or more papers of a Group/Unit by securing a minimum of 60 per centmarks in any of the PCE/IPCE held in May, 2011, November, 2011, and May, 2012, to suchcandidates.

For removal of any doubt, it is clarified that the above is applicable only to those students who

(1) were registered under PCC/IPCC prior to 1st August, 2012;

(2) have had obtained exemption by securing a minimum of 60 per cent marks in one ormore papers of a group/unit in the PCE/IPCE held in May, 2011, November, 2011 and May,2012;

(3) have, being otherwise eligible, pursuant to the aforesaid Notification dated 1st August,2012, switched over to Intermediate (IPC) Course by 30th September, 2012.

The Council also decided that this is a one time measure, for removal of hardshipscaused to such students who converted from PCC or IPCC, to Intermediate (IPC) course, on orbefore 30th September 2012, under the Direct Entry Scheme and who could not appear in theNovember 2012 examination on account of such conversion and thereby missed out on availingof exemptions granted in May 2011, November 2011 and May 2012 PCE/IPCE, for one examand is not an on-going facility.

Exam Department

ICAI