Public consultation requirement mandates publication of draft regulations and considered public responses before final notification. The Board must publish proposed regulations with the enabling Code provision, problem statement, economic analysis, relevant international norms, ... Summary
Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018
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Public consultation requirement mandates publication of draft regulations and considered public responses before final notification.
The Board must publish proposed regulations with the enabling Code provision, problem statement, economic analysis, relevant international norms, implementation method, and comment process; allow at least twenty one days for comments; consider and publish comments with a response by notification date; repeat consultation if approved regulations differ substantially; notify regulations promptly after approval with commencement ordinarily after thirty days; and may consult stakeholders and advisory committees.
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