29A. Establishment of Quality Review Board.—(1) The Central Government shall, by notification,
constitute a Quality Review Board consisting of a Chairperson and four other members.
(2) The Chairperson and members of the Board shall be appointed from amongst the persons of
eminence having experience in the field of law, economics, business, finance or accountancy.
(3) Two members of the Board shall be nominated by the Council and other two members shall be
nominated by the Central Government.
29B. Functions of Board.—The Board shall perform the following functions, namely:—
(a) to make recommendations to the Council with regard to the quality of services provided by
the members of the Institute;
(b) to review the quality of services provided by the members of the Institute including secretarial
services; and
(c) to guide the members of the Institute to improve the quality of services and adherence to the
various statutory and other regulatory requirements.
1. Subs. by Act 8 of 2006, s. 24, for sub-section (2) (w.e.f. 8-8-2006).
2. Subs by Act 12 of 2022, s. 99, for “five thousand rupees” (w.e.f. 10-5-2022).
3. Subs by , s. 99, ibid., for “one lakh rupees” (w.e.f. 10-5-2022).
4. Subs by , s. 99, ibid., for “ten thousand rupees” (w.e.f. 10-5-2022).
5. Subs by , s. 99, ibid., for “two lakh rupees” (w.e.f. 10-5-2022).
6. Ins. by Act 8 of 2006, s. 25, (w.e.f. 17-11-2006).
20
1
[(d) to forward cases of non-compliance with various statutory and regulatory requirements by
the members of the Institute or firms, noticed by it during the course of its review, to the Disciplinary
Directorate for its examination.]
29C. Procedure of Board.—The Board shall meet at such time and place and follow in its meetings
such procedure as may be specified.
29D. Terms and conditions of service of Chairperson and members of Board and its
expenditure.—(1) The terms and conditions of service of the Chairperson and the members of the Board,
and their allowances shall be such as may be specified.
(2) The expenditure of the Board shall be borne by the Council.]
30.[Amendment of Act 8 of 2006].—Omitted by the Company Secretaries Act, 2006 (8 of 2006) s. 2
and the First Schedule (w.e.f. 17-11-2006).