In exercise of the powers conferred by clause e of sub section 13 of section 5, and clause a and f of sub section 2 of section 30, and clauses

EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 506] NEW DELHI, THURS DAY, JULY 20, 2023/ASHADHA 29, 194 5 CG-DL-E-20072023-247484 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 20 th July, 2023 Insolvency and Bankruptcy Board of India (Insolvency Res olution Process for Corporate Persons) (Amendment) Regulations, 20 23 No. I BBI/2023 -24/GN/REG10 2.—In exercise of the powers conferred by clause (e) of sub -section (13) of section 5, and clause (a) and (f) of sub -section (2) of section 30, and clauses (aa ), (c) and (t) of sub -section (1) of section 196 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 Insolvency and Bankrup tcy Board of India (Insolvency Resolution Process for Corporate Per sons) Regu lations, 2016, namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2023. (2) They shall come into force on the date of public ation in t he Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, in regulation 31A, in sub -regulation (1), after the proviso, the following Explanation shall be inser ted, namel y: - “Explanation : For remova l of doubts, it is hereby clarified that the regulatory fee under this sub -regulation, shall not be payable in cases where the approved resolution plan in respect of insolvency resolution of a real estate project is f rom an ass ociation or group of allottee s in such real estate project.” RAVI MITAL, Chairperson [ADVT. -III/4/Exty./2 94/2023 -24] Note : The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 we re publish ed vide Notification No. IBBI/2016 -17/GN/ REG004, dated 30th November, 2016 in the Gazette of India, Extraordinary, Part III, Section 4, No. 432 on 30th November, 2016 and were last amended by the Insolvency and Bankruptcy Board of India (Insolven cy Resolut ion Process for Corporate Persons) (Fifth Amendment) Regulations, 2022 published vide Notification No. IBBI/2022 -23/GN/REG096, dated the 20th September, 2022 in t he Gazette of India, Extraordinary, Part III, Section 4, No.461 on 20th September, 2 022. Uplo aded by Dte . of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054 .