Timeline extension increases procedural time limits for governance of insolvency professional agencies under model bye laws. Amendment revises temporal limits in the model bye laws by substituting the shorter timelines in the proviso to sub clause (3) and in sub clause (5) of clause 12A with a longer period, thereby extending specified procedural time limits applicable to governance and compliance processes of insolvency professional agencies; the amendment takes effect on publication in the Official Gazette and is issued under the Board's enabling powers.