Section 5:
Associates and Fellows.
(1) The members of the Institute shall be divided into two classes designated respectively as Associates and Fellows.
(2) Any person other than a person to whom the provisions of sub-section (4) apply, shall, on his name being entered in the 1[Register of members], be deemed to have become an Associate and as long as his name remains so entered, shall be entitled to use the letters A.C.S. after his name to indicate that he is an Associate.
2[(3) A person, being an Associate who has been in continuous practice in India as a Company Secretary for at least five years and a person who has been an Associate for a continuous period of not less than five years and who possesses such qualifications or practical experience as the Council may prescribe with a view to ensuring that he has experience equivalent to the experience normally acquired as a result of continuous practice for a period of five years as a Company Secretary shall, on payment of
such fees, as may be determined, by notification, by the Council, 3[***], and on application made and granted in the prescribed manner, be entered in the 1[Register of members] as a Fellow:
4* * * *
Explanation I.-- For the purposes of this sub-section, a person shall be deemed to have practised in India for any period for which he has held a certificate of practice under section 6, notwithstanding that he did not actually practise during that period.
Explanation II.-- In computing the continuous period during which a person has been an Associate of the Institute, there shall be included any continuous period during which the person has been an Associate of the dissolved company immediately before he became an Associate of the Institute.]
(4) Any person who was a Fellow of the dissolved company and who is entitled to have his name entered in the 1[Register of members] under clause (a) of sub-section (1) of section 4, shall be entered in the 1[Register of members] as a Fellow.
(5) Any person whose name is entered in the 1[Register of members] as a Fellow shall, so long as his name remains so entered, be entitled to use the letters F.C.S. after his name to indicate that he is a Fellow.
Notes:
1. Subs. by Act 12 of 2022, s. 76 for "Register" (w.e.f.10-5-2022).
2. Subs. by Act 8 of 2006, s. 4, for sub-section (3) (w.e.f. 8-8-2006)
3. The words "which shall not exceed rupees five thousand," omitted by Act 12 of 2022, s. 76 (w.e.f.10-5-2022).
4. The proviso omitted by s. 76, ibid., (w.e.f 10-5-2022).