Registration of Insolvency Professionals Regulations 2016

By | October 8, 2016

Insolvency and Bankruptcy (Registration of Insolvency Professionals) Regulations, 2016


In exercise of the powers conferred by sub-sections (1)(a) to (c) of section 196 and section 207 read with sub-sections (1) and (2) (zzh) to (zzi) of section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Board hereby makes the following Regulations, namely –

Short Title and Commencement

1. (1) These Regulations may be called the Insolvency and Bankruptcy (Registration of Insolvency Professionals) Regulations, 2016.

(2) These Regulations shall come into force on the date of their publication in the Official Gazette.

Definitions

2. (1) In these Regulations, unless the context otherwise requires –

(a) “allied laws” means any rule, regulation, notification, notice or circular issued by the Board or Central Government under the Code;

(b) “Bar Council” means a Bar Council constituted under the Advocates Act, 1961;

(c) “Board” means the Insolvency and Bankruptcy Board of India established under Section 188 of the Code;

(d) “bye-laws” means the bye-laws of an insolvency professional agency made under section 205 of the Code, in accordance with the Insolvency and Bankruptcy (Model Bye-Laws of Insolvency Professional Agencies) Regulations, 2016;

(e) “certificate of registration” means a certificate of registration granted by the Board under section 207 of the Code and pursuant to Regulations 11 to 13 and includes a certificate renewed in accordance with Regulation 14;

Download DRAFT REGULATIONS FOR PUBLIC COMMENTS  :- Insolvency and Bankruptcy (Registration of Insolvency Professionals) Regulations,2016

Leave a Reply