Question ID : 41001

SPECIFIC PERMISSION TO ACT AS PROFESSIONAL DIRECTOR

WHETHER MEMBER IN PRACTICE REQUIRED TO OBTAIN SPECIFIC PERMISSION FROM INSTITUTE TO ACT AS CO -OPTED PROFESSIONAL DIRECTOR IN CO-OPERATIVE BANKS, AS PER NEW CODE PF ETHICS? IF NOT, IS IT NECESSARY TO INFORM INSTITUTE ABOUT APPOINTMENT AS CO-OPTED PROFESSIONAL DIRECTOR.

Answer ID : 80982

so long as it is not a full time appointment and receives only honorarium/ reimburse of expenses, he need not take specific permission/ inform icai.

Answer ID : 81081

Permission is not needed either for appointment as independent director or whole time director. But institute must be informed in case of acceptance of whole time employment.

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