Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Fourth Amendment) Regulations, 2022

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....Professionals) Regulations, 2016, namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Fourth Amendment) Regulations, 2022. (2) They shall come into force on the date of publication in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (hereinafter referred to as 'the principal regulations'), in regulation 2, in sub-regulation (1), in clause (g), for the words "an individual", the words "an individual or an insolvency professional entity recognised by the Board under regulation 13" shall be substituted. 3. In the principal regulations, in regulation 4, (i) the existing regulation shall be renumbered ....

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....d authorisation for assignment to sign and act on behalf of it;" (ii) after clause (i), the following Proviso shall be inserted, namely:- "Provided that clause (ba) and clause (d) shall not be applicable to an insolvency professional which is insolvency professional entity." 7. In the principal regulations, in clause (ca) and clause (g) in sub-regulation (2) of regulation 7 and in clause 8B, clause 8C, clause 8D, clause 21, clause 25A, clause 25B, clause 25C of the First Schedule, for the word "him", the word "it" shall be substituted. 8. In the principal regulations, in regulation 7A, for the word, "he", the word "it" shall be substituted. 9. In the principal regulations, in regulation 12, in sub-regulation (1), (i) clause (a) sha....

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....nd Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016] To The Executive Director (IP Division) Insolvency and Bankruptcy Board of India Sub.: Application for registration as an insolvency professional. Sir/Madam, 1. I, being duly authorised for the purpose, hereby apply on behalf of [name of the applicant entity], recognised by the Board as an insolvency professional entity with recognition number [recognition number], having registered address at [registered address of the applicant entity] for registration as an insolvency professional under section 207 of the Insolvency and Bankruptcy Code, 2016 read with regulation 6 (1A) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 20....

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....aterial respects at any stage. iv. the applicant entity may be derecognised if any information submitted herein is found to be false or misleading in material respects at any stage. 8. I, hereby confirm that the applicable fee has been paid to the Board vide [please enter the payment details along with date of making the payment] and enclose proof thereof. 9. If granted registration, I, on behalf of [name of the applicant entity], undertake to comply with the requirements of the Code, the rules, regulations or circulars or guidelines issued thereunder, and such other terms and conditions as may be imposed by the Board while granting the certificate of registration or subsequently. Yours faithfully, Authorised Signatory (Name) (Desig....