Board regulatory powers over service providers include registration control, standards, inspections, grievance redressal, and civil court-like powers. The Board is empowered, subject to the general direction of the Central Government, to regulate the registration, renewal, suspension, withdrawal and cancellation of registrations of service providers, and to prescribe eligibility conditions, standards of functioning, examination curriculum, fee structures, guidelines and other regulatory requirements for the institutions and professionals operating under the Code. It may inspect, investigate, monitor, issue directions, call for information and records, conduct studies and audits, collect and disseminate insolvency-related data, maintain records and repositories, constitute committees, promote transparency, enter into memoranda of understanding with statutory authorities, and provide grievance redressal mechanisms and public consultation processes for regulations.