Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2022

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....ard of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2022 No. IBBI/2022-23/GN/REG100.-In exercise of the powers conferred by sections 196, 203 and 205 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations further to amend the Ins....

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....nserted, namely: - "(2) No insolvency professional entity, recognised by the Board under regulation 13 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, shall be enrolled as a professional member if it is not eligible to be registered as an insolvency professional with the Board." (ii) in clause 10, in sub-clause (1), for the words "an indivi....

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....al member, which is an insolvency professional entity registered as an insolvency professional." (v) in sub-clause (8) of clause 10, sub-clause (7) of clause 12A, sub-clause (1) of clause 13, sub-clause (b) of clause 20, sub-clause (1) of clause 26, clause 27, clause 28 and clause 30, for the word "his", the word "its" shall be substituted. (vi) in sub-clause (1) of clause 12, sub-clause (2)....