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of <h1>New Rules Clarify Insolvency and Liquidation Terms for Financial Service Providers Under 2019 Framework</h1> The Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019, define key terms used in the context of insolvency and liquidation proceedings for financial service providers. An 'Administrator' is appointed by the Adjudicating Authority to manage insolvency processes. An 'Advisory Committee' is formed by the appropriate regulator. The 'appropriate regulator' is designated by the Central Government for specific financial service providers. The 'Code' refers to the Insolvency and Bankruptcy Code, 2016. A 'Form' is a document included with these rules, and an 'identification number' refers to a financial service provider's corporate or partnership ID. Terms not defined here follow definitions in the Code.
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