Rule-making powers under insolvency law expanded to cover objections, fund sources, and related procedural conditions. Section 239 of the principal Act is amended by substituting 'purposes' for 'provisions' in sub-section (1). In sub-section (2), clause (ea) is omitted and new rule-making matters are added concerning the conditions under section 58B, the fee for filing an objection under section 58C, and the manner and conditions under section 59A. The amendment also revises the rule-making power relating to the Insolvency and Bankruptcy Fund and connected matters.
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Rule-making powers under insolvency law expanded to cover objections, fund sources, and related procedural conditions.
Section 239 of the principal Act is amended by substituting "purposes" for "provisions" in sub-section (1). In sub-section (2), clause (ea) is omitted and new rule-making matters are added concerning the conditions under section 58B, the fee for filing an objection under section 58C, and the manner and conditions under section 59A. The amendment also revises the rule-making power relating to the Insolvency and Bankruptcy Fund and connected matters.
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