Transitional regulatory authority vests interim rulemaking and oversight in the Central Government for continuity of insolvency processes. Transitional clause vests interim regulatory powers in the Central Government until the Board is constituted or a financial sector regulator is designated, including rulemaking authority. It empowers the interim regulator to make regulations for recognition of insolvency professionals and agencies, recognition of information utilities with suitable technological and data protection capabilities, and for conducting corporate insolvency, insolvency resolution, liquidation, fresh start and bankruptcy processes under the Code.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transitional regulatory authority vests interim rulemaking and oversight in the Central Government for continuity of insolvency processes.
Transitional clause vests interim regulatory powers in the Central Government until the Board is constituted or a financial sector regulator is designated, including rulemaking authority. It empowers the interim regulator to make regulations for recognition of insolvency professionals and agencies, recognition of information utilities with suitable technological and data protection capabilities, and for conducting corporate insolvency, insolvency resolution, liquidation, fresh start and bankruptcy processes under the Code.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
