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Core Purpose

Notification of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2023, amending regulation 5 and the Second Schedule Form A of the 2016 principal regulations.

Detailed Summary

This notification (No. IBBI/2023-24/GN/REG103) issued by the Insolvency and Bankruptcy Board of India on 20th July 2023, in exercise of powers under Sections 196, 207 and 208 read with Section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), promulgates the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2023, effective from the date of publication in the Official Gazette. The amendment inserts the word 'Post' before the words 'Graduate Insolvency Programme' in two places: regulation 5, clause (c), sub-clause (ii), and the Second Schedule, Form A, caption B (Qualifications: Educational, Professional, Insolvency Examination and Pre-Registration Educational Course), table (iii) Insolvency Examination, Sl. No. 2, of the principal regulations. A note records that the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 were published vide Notification No. IBBI/2016-17/GN/REG003 dated 23rd November 2016 (Gazette Part III, Section 4, No. 424), and were last amended by the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Fourth Amendment) Regulations, 2022, published vide Notification No. IBBI/2022-23/GN/REG099 dated 28th September 2022 (Gazette Part III, Section 4, No. 472). The notification is signed by Ravi Mital, Chairperson.

Full Text

EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 507] NEW DELHI, THURS DAY, JULY 20, 2023/ASHADHA 29, 194 5 CG-DL-E-20072023-247486 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 20 th July, 2023 Insolvency and Bankruptcy Bo ard of India (Insolvency Professionals) (Amendment) Regulations, 2023 No. IBBI/2023 -24/GN/REG103. —In exercise of the powers conferred by sections 196, 207 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolven cy and Bankruptcy Board of India hereby makes the following regulations further to amend the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, namely: — 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2023. (2) They shall come into force on the date of publication in the Official Gazette. 2. In the Insolvency and Ban kruptcy Board of India (Insolvency Professionals) Regulations, 2016 (hereinafter referred to as the „principal regulations‟), in regulation 5, in clause (c), in sub -clause (ii), before the words “Graduate Insolvency Programme”, the word “Post” shall be ins erted. 3. In the principal regulations, in the Second Schedule, in Form A, in caption B. QUALIFICATIONS: EDUCATIONAL, PROFESSIONAL, INSOLVENCY EXAMINATION AND PRE -REGISTRATION EDUCATIONAL COURSE, in table (iii) Insolvency Examination, in Sl. No. 2 row, bef ore the words “Graduate Insolvency Programme”, the word “Post” shall be inserted. RAVI MITAL, Chairperson [ADVT. -III/4/Exty./2 95/2023 -24] Note: The Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 were published vide Notification No. IBBI/2016 -17/GN/REG003 dated 23rd November, 2016 in the Gazette of India, Extraordinary, Part III, Section 4, No. 424 on 23rd November, 2016 and were last amended by the Insolvency and Bankruptcy Board of India (Insolvency Professionals) ( Fourth Amendment) Regulations, 2022 published vide Notification No. No. IBBI/2022 -23/GN/REG099 dated 28th September, 2022 in the Gazette of India, Extraordinary, Part III, Section 4, No.472 on 28th September, 2022. Uploaded by Dte . of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054 .

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