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of <h1>Central Government's Power to Notify Financial Service Providers under Section 227 of Insolvency and Bankruptcy Code</h1> Section 227 of the Insolvency and Bankruptcy Code, 2016 empowers the Central Government to notify financial service providers or categories thereof for insolvency and liquidation proceedings. This authority can be exercised in consultation with appropriate financial sector regulators. The proceedings for these financial service providers may be conducted with modifications as prescribed. This provision was amended by the Insolvency and Bankruptcy Code (Amendment) Act, 2020, effective from December 28, 2019, and came into force on May 1, 2018.
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