The following educational qualifications are prescribed for the purposes of section 515(3)(a)(vi):—

(1) A degree in Commerce or Law, conferred by any University in India established by law currently in force, or a deemed university, or an institution with the authority to confer degrees under the University Grants Commission Act, 1956 (3 of 1956).    

(2) A degree in Commerce or Law, conferred by any foreign university or educational institution, which is recognized as equivalent to a degree conferred by an Indian University, as determined by the Association of Indian Universities (AIU).