Corporate Insolvency Resolution Process of financial service providers

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....tion Process of financial service providers.- The provisions of the Code relating to the Corporate Insolvency Resolution Process of the corporate debtor shall, mutatis mutandis apply, to the insolvency resolution process of a financial service provider subject to the following modifications, namely:- (a) Initiation of Corporate Insolvency Resolution Process.- (i) no corporate ins....

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....clause (a) till its admission or rejection; and (ii) the license or registration which authorises the financial service provider to engage in the business of providing financial services shall not be suspended or cancelled during the interim-moratorium and the corporate insolvency resolution process. Explanation.- For the purposes of this clause, "interim moratorium" shall have t....

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....and conditions of the Members of the Advisory Committee and the manner of conducting meetings and observance of rules of procedure shall be such as may be determined by the appropriate regulator; (iv) the compensation paid to the Members of the Advisory Committee shall be part of the insolvency resolution process costs; (v) the Administrator shall chair the meetings of the Adviso....