<h1>Regulatory Consultation Framework establishes public comment, economic analysis, and Governing Board approval for issuing insolvency regulations.</h1> The IBBI requires that proposed regulations be published with a draft, the enabling provision, a statement of the problem, economic analysis, relevant international norms, implementation details and timelines for public comment; it must consider and publish comments with a general response, repeat consultation if substantially revised, obtain Governing Board approval, notify in the official gazette and ordinarily defer enforcement for thirty days, while permitting urgent regulations without prior consultation with Governing Board approval.