<h1>IBBI Implements New 2018 Regulations for Creating and Amending Rules Under Insolvency and Bankruptcy Code with Public Consultation.</h1> The Insolvency and Bankruptcy Board of India (IBBI) has implemented the Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018, effective from October 22, 2018. These regulations establish a structured process for creating and amending regulations under the Insolvency and Bankruptcy Code, 2016. The process includes public consultation, requiring IBBI to publish draft regulations and related analyses online for public comment. A minimum of 21 days is allotted for feedback, which IBBI considers before finalizing regulations. In urgent cases, IBBI may bypass this process with Governing Board approval. The regulations are enforced 30 days post-notification unless specified otherwise.