CMA Final Paper-13 New Syllabus June 2023

CMA Final New Syllabus 2023: The Institute of Cost Accountants of India has revised new syllabus for CMA Final elective Paper-13 Corporate And Economic Laws (CEL). The new ICMAI Syllabus-2022 shall be applicable from June 2023 term of examinations.

Students taking enrollments in the Final Course have to give one time option about choice of “Elective Paper”.

New Syllabus for CEL

SECTION A: Corporate Laws

1. The Companies Act, 2013

1. Company Formation and Conversion
   • Incorporation of Private Companies, Public Companies, Company Limited by guarantee and Unlimited Companies and their conversions/ reconversion/ re-registration
   • Formation of Not-for-Profit making Companies
   • Procedure relating to Foreign Companies Carrying on Business in India
   • Conversion of LLPs into Private Limited Companies and vice versa
2. Investment and Loans
   • Procedure for Inter-Corporate Loans, Investments, giving off Guarantee and Security
   • Acceptance of Deposits, Renewal, Repayment, Default and Remedies
   • Public Deposits and Debt Instruments
3. Dividends
   • Profits and Ascertainment of Divisible Profits
   • Declaration and Payment of Dividend
   • Unpaid and Unclaimed dividend – Treatment and Transfer to Investor Education and Protection Fund
4. Accounts and Audit
   • Maintenance of Books of Accounts, Safe Preservation of Records and Accounting Policies
   • Statutory Auditor, Special Auditor and Cost Auditor – Appointment, Resignation, Removal, Qualification, Disqualification, Rights, Duties and Liabilities
   • Companies Auditor Report Order (CARO) Rules
5. Board of Directors and Key Managerial Personnel
   • Directors and Key Managerial Personnel – Appointment, Reappointment, Resignation, Removal
   • Payment of Remuneration to Directors and Key Managerial Personnel and Disclosure
   • Powers of Board of Directors and Restrictions on the Powers of Directors
   • Obtaining DIN
   • Compensation for Loss of Office
   • Waiver of Recovery of Compensation
   • Making loans to Directors, Disclosure of interest of a Director, Holding of Office or Place of Profit by a Director/relative
6. Board Meetings and Procedures
   • Board Meetings, Minutes and Registers
   • Corporate Governance and Audit Committee
   • Duties and Liabilities of Directors
   • Powers related to Political Contributions
7. Inspection, Inquiry and Investigation
8. Compromises, Arrangements and Amalgamations
9. Prevention of Oppression and Mismanagement
   • Majority Rule but Minority Protection
   • Prevention of Oppression and Mismanagement

2. Insolvency and Bankruptcy Code, 2016

1. Definitions
2. Corporate Insolvency Resolution Process
3. Liquidation of a Corporate Person
4. Personal Insolvency

3. Corporate Governance, Social Responsibility and Sustainability

1. Corporate Governance Concepts and Issues
2. Corporate Governance Practices/Codes in India
3. Corporate Governance in Family Business
4. Corporate Social Responsibility – Nature of Activities, Evaluation of CSR Projects
5. Sustainability Management

SECTION B: Economic Laws and Regulations

4. SEBI Laws and Regulations

1. Raising finance from capital markets –IPO
2. Insider Trading
3. Takeover Code

5. The Competition Act, 2002

1. Competition – Meaning, Objectives, Extent and Applicability
   • Anti-Competitive Agreement
   • Abuse of Dominant Position
   • Combinations and its Regulations
2. Competition Commission of India.

6. Foreign Exchange Management Act, 1999

1. Salient Features of Foreign Exchange Management Act (FEMA)
2. Foreign Direct Investment in India (FDI) – Master Directions on FDI
3. External Commercial Borrowings, Trade Credit and Structured Obligations – Master Directions.
4. Liberalized Remittance Scheme (LRS) – Master Directions

7. Laws and Regulations related to Banking Sector

7.1 The Banking Regulation Act, 1949
7.2 Role of Reserve Bank of India
7.3 The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

8. Laws and Regulations related to Insurance Sector

8.1 The Insurance Act, 1938
8.2 The Insurance Regulatory and Development Authority Act, 1999

9. Specific Legal Provisions related to MSME Sector

9.1 Definition of MSME
9.2 Rights available to MSME, Measures for promotion of MSME under MSMED Act, 2006

10. Laws and Regulations related to Cyber Security and Data Privacy

10.1 Information Technology Act, 2000 and Rules framed there under, Sensitive Personal Data rules
10.2 Basic Principles of Data Privacy, Data Privacy and Business Intelligence
10.3 Cyber Crime / Cyber Frauds – Meaning, Remedies and Penalties

11. Laws and Regulations related to Anti-Money Laundering

11.1 The Prevention of Money Laundering Act, 2002
11.2 The Prevention of Money Laundering (Maintenance of Records) Rules, 2005